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7) “The “free market” has not benefited the customers—both the borrowers and the depositors—as much as it should have because of an extremely restrictive entry policy in the banking space. There is an inherent contradiction in the coexistence of a free market and a repressive banking system in India.” Elaborate the statement and examine if things are changing for the better.

Topic: Indian economy – growth; Resource mobilization

7) “The “free market” has not benefited the customers—both the borrowers and the depositors—as much as it should have because of an extremely restrictive entry policy in the banking space. There is an inherent contradiction in the coexistence of a free market and a repressive banking system in India.” Elaborate the statement and examine if things are changing for the better. (200 Words)

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