The Indian financial sector has seen wide ranging reforms during the last two decades. This edited volume comprising the writings of eminent economists, financial experts including top bankers, brings together at one place the story of India’s financial sector reforms—focusing on the unfinished agenda; the need for next generation of reforms; lessons and new responsibilities for central banks in view of the global financial crisis; the policy challenges arising from the new trilemma, that is, price stability, financial stability and sovereign debt sustainability; implications of Basel III and G-20; and, the issues and challenges pertaining to financial inclusion.

Contributors: K.C. Chakrabarty; Uma Kapila; Harun R. Khan; Ashok Lahiri; B. Mahapatra; Deepak Mohanty; N.A. Mujumdar; C. Rangarajan; Y.V. Reddy; Anand Sinha; Joseph E. Stiglitz; Duvvuri Subbarao.