Financial Fragility in Indian Stock Markets : the Decade of the Nineties

The decade of the nineties (particularly since 1991) witnessed major deliberate policies, bearing on almost all sectors & segments of the Indian economy, aimed at reforming radically the functioning of the economy. Furthermore, the policymakers are affirming their commitment to the same with renewed vigor, even to the extent of phased follow-up of second generation reforms targeting, among others, particularly, the financial sector. It is time, therefore that we take a look at the impact of these reform measures in making the financial system stable, resilient i.e. solid or fragile.