Topic: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
3. Analyse the issues affecting the banking the sector of India. Trace the various attempts at reforming baking sector in India. (250 words)
Difficulty level: Easy
Reference: Insights on India
Why the question:
The question is part of the static syllabus of General studies paper – 3 and mentioned as part of Mission-2022 Secure timetable.
Key Demand of the question:
To write about the issues in banking and reforms attempted to resolve them.
Directive word:
Analyse – When asked to analyse, you must examine methodically the structure or nature of the topic by separating it into component parts and present them in a summary.
Structure of the answer:
Introduction:
Begin by giving an overview of Indian banking system.
Body:
First, write about the various issues plaguing the banking sector in India – high NPA’s, wilful default, scams, lack of adequate quality personnel etc.
Next, trace the journey of various attempts at banking reforms – Narasimhan-I, Narasimhan-II, 4R’s, Mission Indradhanush, IBC, NARCL etc.
Conclusion:
Conclude by writing a way forward of measures needed to further strengthen banking in India.
