"Reforming the Indian Banking System: Why It Is Important and What Can Be Done"

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Media Contact:Jacquie Posey | jposey@pobox.upenn.edu | 215-898-6460November 5, 2007

WHO: Dr. Raghuram Rajan, professor of finance at the University of

Chicago and former economic counselor and director of research,

International Monetary Fund

WHAT: Penn's Center for the Advanced Study of India Nand and Jeet Khemka Distinguished Lecture Series

WHERE: Huntsman Hall, 8th floor, Penn's Wharton School, 3730 Walnut St.

WHEN: Thursday, Nov. 8, 5 p.m. reception, 6 p.m. lecture

Dr. Rajan will speak on why financial sector reforms are critical to India's future growth and how changes to the Indian banking system must be part of such an effort. He will discuss how to reach the poor and unbanked segments of society, whether public sector banks are capable of, or needed, to fulfill their stated public purpose, whether rapid privatization is by necessity a central piece in any reform effort, how to create greater competition among banks and what are the political forces that will oppose change.

Reservations are encouraged and can be made by e-mail to casi@sas.upenn.edu, by telephone at 215-746-3159 or by fax to 215-573-2595.  Additional information is available casi.ssc.upenn.edu/.