The Effect of Globalization on Banking Operation in India
Volume III, Issue III, 2020
The concept of globalization is based on the hypothesis that the entire globe is a single unit which takes decisions as one, and there is little to no role of States in the decision making process. From an economic point of view, this hypothesis leads to the conclusion that national economies open up to the world, leading to a free movement of goods, services and capital. A socialist result of this hypothesis would be that there is increased interaction and integration among national systems leading to increased social and cultural changes. From this point of view, globalisation looks like a harmless and rather positive process. However, there is another view which should be looked at. From this other point of view, globalisation is a push towards a global economic system by the supranational corporate trade and banking institutions so that they can avoid the accountability that arises due to democratic processes in nations. Whatever be the point of view, the result is the same- change.
Keywords: Globalization, Banking Operations, Economy, Financial Reform, Banking Institutions.
E. EZIKE, INTERNATIONAL BUSINESS FINANCE AND MANAGEMENT 197 (Concept Publications Limited, 2009).