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Banking Sector Reforms Video Lecture | Commerce & Accountancy Optional Notes for UPSC

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FAQs on Banking Sector Reforms Video Lecture - Commerce & Accountancy Optional Notes for UPSC

1. What are the key objectives of banking sector reforms in India?
Ans. The key objectives of banking sector reforms in India include enhancing efficiency, transparency, and accountability in the banking system, promoting financial inclusion, improving risk management, and strengthening the regulatory framework.
2. How have banking sector reforms impacted the Indian economy?
Ans. Banking sector reforms have led to increased competition among banks, improved access to banking services in rural areas, reduced non-performing assets, and enhanced investor confidence in the Indian banking system, thereby contributing to overall economic growth.
3. What are some of the major reforms introduced in the Indian banking sector?
Ans. Some of the major reforms introduced in the Indian banking sector include the introduction of Basel III norms, the establishment of the Insolvency and Bankruptcy Code, the merger of public sector banks, and the implementation of the Pradhan Mantri Jan Dhan Yojana.
4. How have digital technologies influenced banking sector reforms?
Ans. Digital technologies have played a significant role in banking sector reforms by enabling banks to offer online and mobile banking services, facilitating financial inclusion through digital payments, and improving operational efficiency through automation and data analytics.
5. What challenges do banking sector reforms face in India?
Ans. Some of the challenges facing banking sector reforms in India include addressing the issue of bad loans, enhancing corporate governance practices in banks, managing cybersecurity risks, and ensuring effective implementation of regulatory measures.

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