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RBI's Reddy on banking and financial sector reform

In the speech 'Banking and financial sector reforms - status and prospects' given on 6 October YV Reddy of the RBI said reflecting on future prospects in banking, immediate focus has to be on the cleaning up of the remnants of undercapitalised banks, while concentrating on improvements in the rural co-operative credit system.

"It is also necessary to ensure improvements in their governance and financial management. In the banking system as a whole, a healthy credit culture encompassing

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