Monetary, Banking and Financial Developments in India 1947-48 to 2009-10

Contents: Author’s note on the book. I. Money, monetary policy and Reserve Bank of India: 1. Money and monetary policy. 2. Reserve Bank of India and monetary management. 3. Monetary policy and prices. 4. Monetary policy reforms since 1991. 5. Credit policy. II. Commercial Banks and other financial intermediaries: 6. Commercial banks. 7. Co-operative banks. 8. Development Finance Institutions (DFIs). 9. Non-Banking Financial Companies (NBFCs). 10. Mutual funds. III. Financial system and financial markets: 11. Financial system and economic development. 12. Financial system of India: an overview. 13. Money market. 14. Government securities market. 15. Capital market. 16. Insurance market. 17. Foreign exchange market. IV. Global financial crisis and the Indian economy: 18. Capitalism and business cycles: history and views. 19. India’s response to global meltdown. V. Appendices. VI. Annual review of money and prices in India: 1947-48 to 2008-09. VII. Annual review of banking and financial developments in India: 1947-48 to 2008-09. VIII. Glossary of money, banking and finance. Bibliography. Index.

“Money, banking and finance are the nerve-centre 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.

The present book explains and examines at length the changes which have swept India’s monetary, banking and financial sectors since Independence in 1947, with focus on post - 1991 period. The book is organized into 8 parts.

Part I deals with money, monetary policy, globalization and changing functions of central banks worldwide. It also focuses on 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. Monetary policy reforms in India since 1991 are also covered in this part of the book.

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 (DFIs), Non-Banking Financial Companies (NBFCs) and Mutual Funds.

Part III begins with the role of financial system in economic development. It traces the evolution of India’s financial system since independence, explains its present structure and provides glimpses of its future development. Furthermore, it gives an account of the various components of financial markets in India (money market, government securities market, capital market, insurance market and foreign exchange market) and explains recent measures to make them globally competitive.

Part IV of the book focuses on global meltdown and its impact on India. Policy measures taken by the Government of India, Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI) are also highlighted.

Part V contains 8 appendices. Part VI provides annul review of money and prices in India from 1947-48 to 2008-09.

Part VII provides annual review of banking and financial developments in India from 1947-48 to 2008-09.

Part VIII contains glossary of money, banking and financial terms.

The book is designed to interest a cross-section of readers, viz. teachers and students of economics, commerce, law, public administration business management, chartered accountancy and company secretaryship. It will also serve the needs of legislators, business executives, entrepreneurs and investors, and others interested in monetary, banking and financial developments in India.” (jacket)