India's Financial Markets: Pillars of Progress Amid Global Challenges

RBI Governor Sanjay Malhotra emphasizes the vital role of India's financial markets in economic growth, highlighting evolution and reforms that align with global standards. India's financial landscape has matured, driven by historical changes and recent regulatory adjustments to meet growing economic demands.

In a recent address at the 24th FIMMDA-PDAI Annual Conference in Bali, Reserve Bank of India Governor Sanjay Malhotra underscored the pivotal role that financial markets must play for India to tackle global challenges and achieve its long-term goals.

Governor Malhotra emphasized that financial markets are central to economic growth as platforms for capital raising and asset trading. India's financial markets have evolved significantly, driven by historic reforms and guided by lessons learned from past economic crises.

Malhotra highlighted the advanced infrastructure and high transparency standards of India's financial markets, noting their liquidity surpasses even some advanced countries. Recent reforms have diversified market products and participants, marking a shift from the conservative financial approach of the late 20th century to today's liberal regulatory environment.

(With inputs from agencies.)