The Reserve Bank of India regulates the Indian banking industry. Until 1991, the industry was heavily regulated but reforms since then have liberalized and intensified competition. Today the industry includes public and private sector banks, co-operative banks, long-term lending institutions, non-bank finance companies, and more. In recent years growth has been consistent but high inflation in 2013 impacted some public sector banks' profitability. Rising incomes and economic growth are expected to continue driving growth in the banking sector.