Abstract
As financial sector plays an important role in shaping up a country's economy, during the last decade and a half many developing countries have taken measures to reform their financial sectors so that it contributes immensely to their economy
The present paper makes an attempt to analyse various aspects relating to reforms introduced in Indis s financial sector and compares them with the experience in some of the South East Asian economies such as Thailand, Malaysia and Indonesia. This paper also tries to focus upon the underlining economic conditions which are essential for a country to fully liberalise its financial sector either in a rapid or in a phased manner. It also takes into account how regulation and competition can jointly play a crucial role in enhancing the growth of an economy.
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