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Synopsis This book focuses on the essential aspects of monetary and financial sector reforms in India, delineating the broad framework in which such reforms were undertaken. The author, a reputed central banker, brings to bear his vast and varied experience to throw light on various vital topics such as monetary policy issues; financial and banking sector reforms; external sector issues; financial markets; and fiscal issues. The East Asian crisis, its consequences and the lessons for India have also been highlighted. The collection of lectures (included in this book) provides a detailed analysis of the important challenges in the financial and monetary spheres. The lectures give insights into the evolution of policies and illustrate the complexities involved in translating the policy objectives into discrete policy actions and their operational significance. The policy perspectives would be of interest to academics, students, decision-makers, market participants, financial analysts and journalists.