<h1>Deputy Governor Highlights Role of Financial Systems in Economic Growth at Credit Summit India 2014; Advocates for Reforms.</h1> The speech by a Deputy Governor at the 'Credit Summit India 2014' highlights the critical role of financial systems in economic growth by facilitating capital allocation and reducing transaction costs. It discusses the historical development of financial centers like London and New York, debates on finance-growth relationships, and emphasizes the positive influence of financial development on growth. The speech notes India's rank in the World Financial Development Index and underscores the need for improved financial markets. It also outlines the importance of banking in Asian economies, the growth of India's credit market, and the development of the OTC derivatives market, advocating for continued financial reforms and infrastructure enhancements.