LITERATURE REVIEW

Sr Nature of Name of literature Review Research Gap Intended

no. literature Research
1. Article On this day in 1991: The article adeptly delves into the The research This research
A landmark budget economic challenges faced by India in gap lies in a aims to
that changed India’s the early 1990s, emphasizing the need comprehensive explore the
fortunes. (2023, for bold measures to break away from analysis of the enduring
November 28). The the stagnant, socialist model. It long-term socio- impact of the
Economic Times. underscores how the then-Finance economic 1991 budget
https://economictime Minister, Dr. Manmohan Singh, consequences of on India's
s.indiatimes.com/ne played a pivotal role in steering the the 1991 economic
ws/economy/policy/ country toward a more open and budget's trajectory,
on-this-day-in-1991- market-oriented economy. liberalization with a
a-landmark-budget- policies in India. specific focus
that-changed-indias- One of the key liberalization policies While existing on the
fortunes/ highlighted in the article is the literature liberalization
articleshow/ dismantling of the License Raj, a acknowledges policies
93090439.cms bureaucratic system that imposed the introduced.
restrictions on private businesses. The transformative Through a
removal of these barriers fostered a impact, a nuanced
more competitive environment, nuanced analysis, it
encouraging entrepreneurship and exploration is seeks to
attracting foreign investment. needed to understand
Additionally, the article discusses the understand the the sector-
reduction of trade barriers, allowing specific sectors wise
for increased global integration and affected, the implications,
trade. disparities socio-
created, and the economic
The author skillfully articulates how policy's role in transformatio
these liberalization policies catalyzed shaping ns, and the
India's economic growth, leading to a contemporary ongoing
significant expansion of industries, a economic relevance of
rise in foreign direct investment, and challenges and these policies
the emergence of a dynamic middle opportunities. in shaping
class. By contextualizing the impact of India's
these policies within the broader contemporary
economic narrative, the article economic
provides readers with a comprehensive landscape.
understanding of the profound changes
set in motion by the 1991 budget.
2. Article MAHALINGAM. The article on "The Narasimham The research This research
(1998, May 9). The Committee on Banking Reforms" gap in the article aims to
Narasimham provides a comprehensive and on "The assess the
Committee on insightful overview of the committee's Narasimham real-world
Banking Reforms. recommendations and their profound Committee on implementati
www.hinduonnet.co implications on the Indian banking Banking on and
m. Retrieved sector. It effectively highlights the key Reforms" lies in effectiveness
November 26, 2023, issues addressed by the committee, the absence of a of the
from ranging from capital adequacy and detailed Narasimham
 https://web.archive.o asset quality to improvements in examination of Committee's
rg/web/2008102422 transparency and governance. The the real-world recommendat
0946/http://www.hin article delves into the context in which implementation ions on
duonnet.com/fline/ the committee was formed and challenges and banking
fl1510/15101090.ht meticulously analyzes its impact on the long-term reforms. The
m shaping the banking landscape. effectiveness of study intends
Additionally, the review applauds the the committee's to provide
article's clarity in presenting complex recommendation practical
financial concepts, making it s. Further insights into
accessible to a broader audience. research could the
Overall, the piece serves as an provide insights implications
invaluable resource for those seeking a into the practical and outcomes
deeper understanding of the implications and of these
Narasimham Committee's pivotal role potential reformsTop
in steering significant reforms within obstacles faced of Form
India's banking secto by the banking
sector in
adopting these
reforms.
3. Article Sharma. (2021, The article on "Liberalization: Its The research This research
July). Impact on the Indian Banking Sector" gap lies in the aims to
LIBERALIZATION offers a compelling analysis of the absence of a provide a
: IT’S IMPACT ON transformative effects of liberalization detailed nuanced
INDIAN BANKING on India's banking landscape. It investigation examination
SECTOR. Journal of adeptly examines the shift from a into the specific of the impact
Management Value regulated to a liberalized economy and challenges and of
& Ethics, 11(03). its repercussions on banking opportunities liberalization
http://www.jmveindi operations. The review applauds the faced by smaller on the Indian
a.com/journal/JULY article's comprehensive exploration of banks and banking
-SEPT how liberalization has spurred financial sector,
%2021%20final.pdf innovation, increased competition, and institutions in comprehensi
#page=4 facilitated international collaborations India during the ve analysis of
within the banking sector. process of their
Furthermore, it commends the piece liberalization. A adaptability
for addressing challenges arising from nuanced and
the liberalization process. Overall, the analysis of their challenges,
article provides valuable insights into adaptability, the study
the nuanced consequences of resilience, and intends to
economic liberalization on the Indian the effectiveness contribute
banking sector, making it a of policy valuable
noteworthy resource for those seeking measures would insights into
a deeper understanding of the sector's contribute to a the dynamics
evolution in the wake of policy more of banking in
changes.Top of Form comprehensive a liberalized
understanding. economic
environment.
4. Article Sen, Kunal; and The article, "The Process of Financial The research This research
Vaidya (1997), The Liberalization in India," offers a gap in "The aims to
Process of Financial meticulous examination of India's Process of investigate
Liberalization in journey towards financial Financial the nuanced
 India, Oxford liberalization. It adeptly traces the Liberalization in societal
University Press, evolution of policies and their impact India" lies in the impact of
New Delhi, Reserve on the country's financial sector. The absence of a financial
Bank of India, review commends the article's in- detailed liberalization
http://www.rbi.com/ depth analysis of regulatory changes, examination of in India,
market dynamics, and the resulting the socio- focusing on
economic shifts. Furthermore, it economic the
highlights the article's contribution in disparities consequences
elucidating the challenges encountered resulting from for
during the liberalization process and liberalization marginalized
their implications. The comprehensive policies and the sectors and
exploration of the subject matter, specific assessing the
coupled with clear insights, makes the challenges faced efficacy of
article an invaluable resource for by marginalized policy
researchers, policymakers, and anyone sectors, measures.
seeking a nuanced understanding of hindering a
India's financial liberalization journey comprehensive
and its multifaceted consequences. understanding of
the broader
societal impact
of financial
reforms.
5 Journal Lawrence. (2003, The article "Liberalization in India: There is absence The study
December). Measuring Relative Progress" offers a of a detailed aims to
Financial comprehensive evaluation of India's exploration of provide a
Liberalisation in journey towards economic regional more
India: measuring liberalization. It systematically variations and granular
relative progress. assesses various indicators to gauge socio-economic understandin
Keele Economics the relative progress made, providing a disparities g of how
Research Papers, 08. nuanced understanding of the resulting from economic
https://www.research country's economic transformation. liberalization progress
gate.net/publication/ The review appreciates the article's policies. A more varies across
5159313_Financial_ meticulous analysis of key sectors, in-depth different
Liberalisation_in_In such as trade, finance, and industry, investigation segments of
dia_measuring_relati and its emphasis on measuring into these the
ve_progress progress comparatively. Moreover, the factors would population
article effectively navigates through enhance the during the
the complexities of economic data, understanding of liberalization
making it accessible to a broad the differential era. Top of
audience. However, the review impact of Form
suggests that the article could benefit economic
from delving deeper into the regional reforms across
disparities and socio-economic diverse
implications of liberalization to segments of the
provide a more holistic perspective. population.
Overall, the article serves as a valuable
resource for those seeking an informed
assessment of India's liberalization
journey.
Sr. Nature of Name of Covered/ Review Research Gap in Intended
No Literature Literature Literature Research
6. Book "India's Provides insights The book does Investigate the
Financial Sector: into the reforms not delve deeply specific
An Era of in India's into the regulatory
Reforms" by financial sector, regulatory measures
Urjit R. Patel but lacks a mechanisms employed by the
detailed employed by the RBI and their
examination of RBI to control impact on the
the RBI's role in commercial banking sector.
banking banks.
supervision.
7. Book "Banking and Offers an Lacks an in- Evaluate the
Financial overview of depth analysis regulatory
Systems in banking systems of the RBI's framework of
India" by H. R. in India, but control the RBI and its
Machiraju limited focus on mechanisms and effectiveness in
the regulatory their controlling
aspects of the effectiveness. commercial
RBI. banks.
8. Article "Banking Examines the Limited Investigate the
Regulation and evolution of exploration of practical aspects
Supervision in banking the practical of how the RBI
India: Evolution regulation, but implementation exercises
and Recent may not of regulatory control over
Developments" thoroughly control by the commercial
by Rajeswari address the RBI. banks through
Sengupta and specific control supervision.
Harsh Vardhan exercised by the
RBI.
9. Article "Effectiveness of Empirically Does not Assess the
Banking analyzes the explicitly focus specific impact
Regulation in effectiveness of on the RBI's and
India: An banking role in effectiveness of
Empirical regulation, controlling the RBI's
Analysis" by providing commercial regulatory
Jaya Prakash quantitative banks. measures on
Pradhan and insights. commercial
Ram Pratap banks.
Sinha
10. Journal "RBI Bulletin" Offers official Limited external Supplement
(Reserve Bank insights from the perspectives or official
of India) RBI's critical analysis information
perspective, from with external
providing independent perspectives to
information on sources. provide a
policies and comprehensive
regulations. view.

5
11. Journal "Journal of A scholarly May lack a Evaluate global
Banking journal offering specific focus best practices
Regulation" various articles on the Indian and assess their
(Palgrave on banking context and the applicability to
Macmillan) regulation RBI's role. the Indian
globally. context with a
focus on the
RBI.
12. ACT "Banking Official Limited analysis Examine the
Regulation Act, documentation of and application practical
1949" (Reserve the legal of the Act to implications and
Bank of India) framework real-world application of
governing scenarios. the Banking
banking Regulation Act
regulation in by the RBI.
India.
13. Publication "Banking Provides a May lack in- Explore the
Structure in snapshot of the depth insights specific details
India: A banking structure into the specificof the RBI's
Snapshot" (RBI in India. regulatory control
Publications) control mechanisms and
exercised by the their impact on
RBI. the banking
structure.
14. Case Law PMC Bank An examination Limited Compare the
Crisis (2019) of the crisis at comparative regulatory
PMC Bank and analysis with response in the
the regulatory other banking PMC Bank
response. crises and their crisis with other
regulatory banking crises
responses. for a
comprehensive
view.
15. Case Law Yes Bank Crisis Analysis of the Limited Assess the long-
(2020) crisis at Yes exploration of term
Bank and the the long-term implications of
RBI's effects of the the Yes Bank
intervention. crisis on the crisis and the
banking sector. RBI's measures
on the broader
banking sector.
16. Case Law IL&FS Crisis Examination of May not provide Investigate the
(2018) the crisis at a detailed specific
IL&FS and the exploration of challenges faced
regulatory the regulatory by the RBI in
measures. intricacies and managing the
challenges faced IL&FS crisis
by the RBI. and the
subsequent
regulatory

6
 changes.

7
Name Author Summary Topic Covered Research Gap
This comprehensive Despite covering the
review provides an Historical historical context, there
in-depth analysis of perspective of bank is a lack of focus on the
the nationalization of nationalization in socio-political factors
banks in 1969 and India, reasons that influenced the
1980. It delves into behind the decisions decision to nationalize
the historical context, in 1969 and 1980, banks. Further research
17. "Bank reasons, consequences for the is needed to explore the
Nationalization in consequences, and banking sector and political climate and
India: A long-term effects of the economy, and public sentiment
Comprehensive Sharma, the nationalization long-term effects on surrounding these
Study" R. K. process. financial stability. events.
While the economic
aspects are well-
covered, there is
limited discussion on
the role of nationalized
This study primarily Economic banks in promoting
focuses on the consequences of social welfare and
economic bank nationalization, addressing disparities
consequences of with a particular in rural and urban
18. "Impact of bank nationalization, emphasis on its areas. Future research
Bank exploring its impact effects on economic should explore the
Nationalization on on economic growth, growth, investment social impact of bank
Economic Verma, investment, and patterns, and nationalization in
Growth" S. K. financial inclusion. financial inclusion. India.
The study provides
insights into policy
This comparative changes but lacks a
analysis examines detailed examination of
the policy shifts in how the nationalization
the Indian banking influenced the
sector before and Comparative functioning and
after the analysis of the decision-making
nationalization policies governing processes within the
episodes, the Indian banking nationalized banks.
19. "Policy Shifts highlighting changes sector before and Future research could
in the Indian in regulatory after the explore the internal
Banking Sector: A frameworks and nationalization of dynamics of
Comparative Gupta, management banks in 1969 and nationalized banks
Analysis" M. structures. 1980. post-nationalization.
20. "Bank Singh, This seminal work Historical context, The study provides a
Nationalization in A. offers a detailed motivations behind solid foundation, but

8
Name Author Summary Topic Covered Research Gap
examination of the
historical events
leading to the
nationalization of
banks in India in there's a need for a
1969 and 1980. It the nationalization nuanced exploration of
analyzes the in 1969 and 1980, the role of political
motivations, consequences for the ideologies and global
consequences, and banking sector and economic trends that
long-term effects of economy, long-term influenced the decision
these policy effects on financial to nationalize banks in
India: 1969-1980" decisions. stability. India.
Focused on the While economic
economic consequences are well-
repercussions, this covered, there's a
review synthesizes research gap in
existing literature to Economic understanding the
understand the consequences of challenges faced by the
impact of bank bank nationalization, nationalized banks and
nationalization on including effects on their adaptation
economic growth, growth, stability, strategies in response
21. "Economic 22. stability, and and government to changing economic
Impacts of Bank Patel, R. government intervention in the landscapes over the
Nationalization" K. intervention in India. banking sector. years.