Banking system to become stronger: Economic Survey 2011-12

The Economic Survey 2011-12 was tabled in the parliament by Finance Minister Pranab Mukherjee on March 15, 2012. According to the Economic Survey Indian Banking system to become stronger than ever. The Economic Survey finds that the Indian Banking System has successfully passed through the several phases of reforms and has also faced the stress tests posed by the global financial turmoil in the recent past.

This suggests that the Indian financial system has become even stronger. The financials of the banking system have grown in size as well as in quality. There were some important reforms also along in the year such as the deregulation of interest rates on Saving Bank Deposits and NRE deposits.

The banks have complied with the regulatory requirements and also been proactive in adopting to the changes which are coming their way in the emerging banking space, both in domestic and international fronts.

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