The discipline is mother of all good characters. The financial discipline is the father of the economic development. The development of a nation is only possible with the help of financial discipline. The behavioural finance will occupy a dominant role in building up of good reputation of a firm or a nation or to an individual. The prosperity or poverty is the option before a nation.
The functional area of finance is a subject of growing importance and interest. After the introduction of reforms in india, the world is becoming a global market. A system is a set of interrelated parts working together to achieve something. The financial system is indispensable for the rapid economic growth of a country. The development of a nation depends upon the better financial archietecture. A good financial system may stimulate the wealth of a nation. It can be built upon a strong financial discipline.
Financial discipline is a most important factor for a nation or for a company or for an individual. The good will of a country or company or a common man depends upon the behaviour of financial relations. Behavioural finance is the most important factor in the wealth creation of a nation. The asset formation of a nation depends upon a financial growth. The financial growth is only possible with a financial discipline. The entire globe is rotating on the movement of flow of funds in the digital era. The money can be used as effecient element to counter the poverty. Efficient utilisation of financial resources enhances the capability of a nation. Financial reforms in the most of the countries led to over expansion of credit regulators and were not able keep up since regulatory skills were often lacking major crisis.
Financial innovation has contributed to the development. The market based economies have in general done better because of the constant identification and improved satisfaction of the consumer needs including the need for the financial production. Modern economics are higly influenced expansion, diversification, attitudes of the savers and risk aversion of the investors. The level of economic activities is the barometre of a nation and they depends upon a strong financial discipline. Reforms are antibiotics and policies are enzymes. The financial system which contains the strong financial discipline can achieve the goal very easily.
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