Professor of Psychology at Harvard University, Steven Pinker, said, “there’s no limit to the betterments we can attain if we continue to apply knowledge to enhance human flourishing.” This principle, directly or tacitly, remains at the core of technological and other advancements in the different sectors of Indian industry. Developments in sectors like banking, the sunrise industry, PSUs and automobiles are interlinked and provide unique opportunities for economic growth through research and development (R&D), employment generation, and rural outreach projects, to name a few.
BANKING
The banking sector plays a crucial role in ensuring the growth of the economy. While providing infrastructure to enable economic growth, the banking sector today also competes with modern international standards. However, like any other sector, banking in India has evolved over time after the reforms of 1991. The first set of reforms were based on recommendations made by the Committee on the Financial System under the chairmanship of Shri
