Synopsis The essays in this volume are based on lectures delivered by Y.V. Reddy in various parts of the world. They discuss the complex but under-documented structural micro-aspects of economic reforms in India, examining the process from conceptualization of policy to its development, refinement and implementation. The book explores dilemmas and issues faced by policy-makers in meeting the evolving uncertainties. The volume distinguishes between measures requiring legal changes, policy reorientation, procedural revamping and operational finesse. The tasks ahead for institutions, both public and private, are drawn up with a focus on accountability and transparency. Reddy evaluates the implementation of financial sector reforms in the context of monetary policy and the financial market in India, which is being liberalized. The book should be of interest to regulators, journalists, professional bankers, economists, and general readers.