Financial sector reforms are a continuous process and fixed reforms agenda does not help in fast changing economic scenario, former RBI Governor, Mr Y V Reddy said on Monday.

“The financial sector reforms agenda has to serve the purpose of overall economic growth. That is one lesson from the global economic crisis,” Mr Reddy told reporters on the sidelines of conference on ‘China and India: Sustaining High Quality Growth’ here.

Financial sector reforms should sub serve the real economy, he said, adding that the world is changing fast and so are the macroeconomic conditions.

“Therefore, you should not have fixed reforms agenda and say some committee gave a report therefore we should do it. “Reform is a continuous process and it should be continuously evaluated, with the objective of improving the real economy,” Mr Reddy added.

(This article was published on March 19, 2012)
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