While the fundamentals of the Indian economy remain robust, the financial sector in the country is undergoing a phase of challenge, which can become a big hurdle to the growth story of India. Besides the liquidity crunch, there also is the risk of investor sentiments getting affected, which eventually will find a reflection in foreign capital outflows, thus weakening the rupee further. CII has drawn up a note with the objective of highlighting suggested short-term recommendations for the revival of financial sector in India.