Abstract

The banking system being an economic system is in course of constant development. Its structural elements must work together to bring the best effect. The article explores the present status of the Russian banking system and discusses the targets of its ongoing reforms. Modernization of the banking system of Russia is regarded in the contexts of current situation, role of the government and other market participants, actual problems including sanctions. Interconnection is traced between ongoing and planned measures designed for the banking system modernization and the development of main areas of the Russian economy.

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