This demarcation no longer exists. Historically, the sector has been dominated by State owned institutions. Th twin forces of deregulation and technology have increased the degree of competition in the Indian financial sector to unprecedented levels.
Concessional funding is no longer available.
Government guaranteed SLR and other bonds, which used to be the pre-dominant source of funding till 1993, have been phased out in accordance with the reform process. On the other hand interest rates have fallen sharply and disintermediation has grown rapidly. Thus spreads are under pressure, long term outlook looks unfavorable. The company is making constant efforts to take first mover advantage in the technology-related businesses. However, of late, under the direction of Mr.