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Monetary, Banking & Financial Developments in India
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360 b
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Money, banking, and finance are the nerve center of an economy. They cover the whole gamut of legal and institutional arrangements, financial intermediaries, financial markets, and instruments with both domestic and external dimensions. This book explains and examines the changes which have swept India's monetary, banking, and financial sectors since independence in 1947, with a focus on the post-1991 period. Part I deals with money, monetary policy, globalization, and the changing functions of central banks worldwide. It also focuses on the Reserve Bank of India (RBI) and its monetary and credit policies, particularly in the context of price stability and flow of credit to priority sectors of the economy. Part II traces the evolution and the present status of various financial intermediaries in India. The areas covered include commercial banks, co-operative banks, development finance institutions, non-banking financial companies, and mutual funds. Part III begins with the role of the
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