Libralization: It’s Impact on Indian Banking Sector

Abstract

Indian financial sector has undergone an important role in inspiring and stabilizing the growth of an economy. Economics essentially involves the efficient transfer of funds in exchange for goods, services or promises of future return, it brought momentous changes in the financial sector in general and banking in particular. While there have been striking changes in the financial structure, India remains a bank conquered financial system. One of the major purposes of financial liberalization was to make the financial institutions more efficient and competent. A number of developing countries have undertaken financial sector reforms in order to pursue the goals of economic growth and improved living standards. This paper examines aspects of the development of financial sector particularly after 1990 when financial liberalization began. The usual confidence is that liberalization process allows for the development of a competitive financial system, which aids the efficient allocation of resources by mobilizing savings through the growth of financial intermediation and asset diversification.

AI-Driven Customization in Financial Services: Implications for Social Innovation in Nepal

“…Potential barriers to the broad use of AI include data protection regulations and the highly regulated banking industry. Notwithstanding these obstacles, the substantial impact of AI on bank profitability cannot be understated, particularly in a setting where data-driven financial services providers, like FinTech start-ups and significant tech companies upending established banking models, are becoming more and more competitive in the banking industry (Ghimire et al, 2021;Malik, 2014;Mohammed, 2021). What specific areas of decision-making in Nepalese commercial banks stand to benefit the most from artificial intelligence (AI), and how does the degree of AI integration affect social innovation and how employees in the banking industry make decisions?…”