Corporate governance is crucial for financial growth, especially in developing countries like India. Recent research shows that investor protection is key for a country's financial development. India has good corporate governance laws but poor implementation due to past socialist policies. The Indian corporate landscape has issues like concentrated ownership and lack of oversight by directors. Efforts are being made to improve the system, with SEBI introducing Clause 49 for Corporate Governance Listing Agreements. Indian banks are also transitioning towards more market-based governance.