FAIR COMPETITION IN THE BANKING SECTOR OF THE RUSSIAN FEDERATION

Abstract

Maintaining a competitive environment is an important factor in the development of any sector of economy, including the financial market. Namely its presence makes financial organizations to fight for the client, to offer the best conditions of cooperation to business entities and citizens. It helps to reduce the costs and increase the availability of credit resources. The competitive environment has a beneficial effect on the state of the market only when the participants of the market comply with the established rules and standards of conduct and do not violate the principles of fair competition. The article deals with the problems of competition in the market of banking services in the Russian Federation, which have a direct impact on the socio-economic development of the subjects of the Russian Federation. The author proposes the measures, aimed to combat illegal players.