References
[1]. Schumpeter J.A. (1911), “The theory of economic development”, New York, Oxford University Press, 1934
[2]. Schumpeter J.A. (1970), “The nature of money”, Vanenhoeck and Ruprecht, Gottingen
[3]. Robinson J. (1952), “The Generalization of the General Theory, in The Rate of Interest and Other Essays”, London, Macmillan.
[4]. Tobin J. (1965), “Money and Economic Growth”, Econometrica, Volume 33.
[5]. Patrick H.T. (1966), “Financial Development and Economic Growth in Underdeveloped Countries”, Economic Development and Cultural Change, Vol. 14, No. 2.
[6]. McKinnon R. I. (1973), “Money and Capital in Economic Development”, Washington DC, The Brookings Institution.
[7]. Shaw, Edward S. (1973). Financial Deepening in Economic Development, New York: Oxford University Press.
[8]. Jung W.S. (1986), “Financial Development and Economic Growth: International Evidence”, Economic Development and Cultural Change, Vol. 34, No. 2.
[9]. Minsky, H.P. (1986), “Stabilizing an Unstable Economy”, New Haven and London, Yale University Press.
[10]. Minsky, H.P. (1992), “The Financial Instability Hypothesis”, WP 4, The Jerome Levy Economics Institute of Bard College.
[11]. Demetriades P. O. and Hussein K.A. (1996), “Does financial development cause economic growth? Time-series evidence from 16 countries”, Journal of Development Economics, Vol. 51.
[12]. King, R. G., & Levine, R. (1993). Finance, entrepreneurship and growth. Journal of Monetary economics.
[13]. De Gregorio, J., & Guidotti, P. E. (1995). Financial development and economic growth. World development.
[14]. Das, P. K., & Maiti, P. (1998). Bank credit, output and bank deposits in West Bengal and selected states. Economic and political Weekly.
[15]. Blackburn, K., & Hung, V. T. (1998). A theory of growth, financial development and trade. Economica.
[16]. Levine, R., Loayza, N., & Beck, T. (2000). Financial intermediation and growth: Causality and causes. Journal of monetary Economics.
[17]. Calderón, C., & Liu, L. (2002). The direction of causality between financial development and economic growth. Journal of development economics.
[18]. Bell C. and Rousseau P. L. (2001), “Post-independence India: a case of finance-led industrialization? Journal of Development Economics, Vol. 65.
[19]. Rajan, R. G., & Zingales, L. (1998). Which capitalism? Lessons from the east Asian crisis. Journal of Applied Corporate Finance.
[20]. Rajan, R. and Zingales, L. (2001), “The Great Reversals: The Politics of Financial Development in the 20th Century” NBER Working Paper No. 8178, National Bureau of Economic Research, Cambridge, MA.
[21]. Das, P. K. and Khasnobis, B. G. (2007), “Finance and Growth: An Empirical Assessment of the Indian Economy”, United Nations University – World Institute for Development Economics Research, Research Paper No. 2007/13.
[22]. Pradhan, R. P., Arvin B. M., Norman, N. R. and Nishigaki, Y. (2014), “Does banking sector development affect economic growth and inflation? A panel co-integration and causality approach”, Applied Financial Economics, Vol 24: 7.
[23]. Sehrawat, M. and Giri A. K. (2015), “The Role of Financial Development in Economic Growth: Empirical Evidence from Indian States”, International Journal of Emerging Markets, Vol. 10.
[24]. Chen, G., & Wu, Y. (2014). Bank ownership and credit growth in emerging markets during and after the 2008–09 financial crisis—A cross-regional comparison. IMF Working Paper WP/14/171, International Monetary Fund, Washington D.C.
[25]. Singh C (2016), “An Essay on Banking and Macroeconomics: Role of Public Sector Banks in India” IIMB WP 530.
[26]. “Statutory and Institutionalized framework for Monetary Policy; Central Government I consultation with RBI announces the Inflation Target of Four Percent”, PIB, Govt of India, 2016.
[27]. “Banks to see 15% plus credit growth in FY22-25 period: ICICI securities”, Business line, March, 2021.
[28]. Adhikari, Anand, “Blame bad loans for credit growth woes: RBI”, Business today, April, 2021.
[29]. Ghosh, Chandrasekhar, “Changing trends in bank credit, post demonetization”, Business line, September, 2019.
[30]. Dave, Neha, “Credit growth well in excess of nominal GDP growth, but will it sustain?”, Moneycontrol, December, 2018.
[31]. Merwin, Radhika, “Demonetisation to hit bank credit growth”, BusinessLine, January, 2018.
[32]. Lahiri, Amartya, “Deposits after demonetization rose by 6 trillion and yet bank credit fall”, March, 2020.
[33]. Kumar, Pai, “Expand credit to boost growth”, March, 2019.
[34]. “Former RBI Guv D Subbarao says Inflation targeting framework must be continued”, CNBC- TV 18, March, 2021.
[35]. “India need more banks to double credit-to-gdp ratio to 100 percent : RBI board member”, BusinessToday, September, 2020.
[36]. “India needs to double credit growth to 15% to achieve $5 trillion economy: Bankers”, BusinessLine, February, 2020.
[37]. Dugal, Ira, “The long stinging tail of India’s credit crisis”, BloombergQuint, October, 2019.
[38]. Eichengreen, Gupta and Choudhary, “Inflation targeting in India: an interim assessment”, VOXEU CEPR October, 2020.
[39]. Kumar, “NPAs: Cleaner of banks or killer of Indian economy?”, The times of India, December, 2020.
[40]. “Viral Acharya’s prescription to increase India’s credit-to-gdp ratio”, Economic times, July, 2020.