The banking system in India is significantly different from that of other Asian Nations because of the country’s unique geographic, social and economic characteristics. India has a large population and land size, a diverse culture and extreme disparities in income, which are marked among its regions. There are high levels of illiteracy among a large percentage of its population, but at the same time, the country has a large reservoir of managerial and technologically advanced talents. Between about 30-35% of the population resides in metro and urban cities and the rest is spread in several semi-urban and rural centers. The country’s economic policy framework combines socialistic and capitalistic feature with a heavy bias towards Public Sector Investments. India has followed the path of “growth led exports” rather than the “export led growth” of other Asian Economies, with emphasis on self reliance through import substitution.

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