Evolution of Financial system: Phase I, Phase II and Phase III in India
(The India Financial System falls into 3 different phases: Phase I: Pre-1951 organisation, Phase II: 1951 to Mid-eighties organisation, Phase III: Post-Nineties Organisation) The evolution of the financial system in India may be divided into three broad phases: (I) the traditional phase (Pre 1951 organisation,) (II) the transitional phase (1951 to Mid-eighties organisation,) and (iii)…