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GLOBAL FINANCIAL CRISIS: INDIA’S POSITION
Chief Operating officer and Chief Economist
Bombay Stock Exchange Brokers Forum
This book is a humble effort for making the common man understands the implications of the Global Financial Crisis – its causes and its effects which are now being felt. The entire world economy has undergone a sea of change in the last five years since the world experienced the Global Financial Crisis 2008 which shook the whole economy and also highlighted the Asian Economies as the coming super economic powers. Fortunately or due to structural reforms that have taken place in India in the last more than two decades, India has been able to withstand the global financial crisis and demonstrated to the world that Indian Economy is self-sufficient and is able to generate demand and consumption on its own. The attempt also to analyze the impact of the global crisis on the Indian stock market which took a nose dive crash in 2008 during the global crisis and also during the 2011 Eurozone crisis. The banking system which is the back bone of any financial system has also been compared to the advanced and developed global banks which could not sustain the global crisis and rather were the causes that triggered the fall in the global economy.
The book has been divided into 6 sections:
Section 1: Indian Economy — The journey so far
Section 2: Global Economy — What went wrong that led to Global Financial Crisis
Section 3: Eurozone Crisis — What lessons were learnt?
Section 4: Indian Capital Markets — The meltdown
Section 5: Banks lending — The trigger point for collapse
Section 6: Conclusion
I take this opportunity to sincerely thank Miss Naik Afifa Khatoon, studying MBA inAllana Institute of Management Studies, Mumbai, who has done the editing of this book. She has been real help to me in completing this book and ensuring that I am able to do this work along with my busy office work. She has been instrumental in completing this book on timely basis.