Contents: I. Financial system: an introduction1. Financial system and economic development.
2. Financial system of India: evolution, present status and future.
II. Central banking: global and Indian experiences-3. Central banking: global experience.
4. Reserve Bank of India: history, functions and working.
III. Financial intermediaries-5. Commercial banks: history and post-1991 reforms.
6. Co-operative banks: disquieting performance.
7. Development Finance Institutions (DFIs): what relevance?
8. Non-Banking Financial Companies (NBFCs): new regulations.
9. Mutual funds: crisis of confidence.
IV. Financial markets- 10. Money market: history and post-1991 development.
11. Government securities market: legal and institutional initiatives.
12. Capital market: reforms since 1991.
13. Insurance market: from government monopoly to competition.
14. Foreign exchange market: from FERA to FEMA.
V. Summary and assessment -15. Summary and assessment.
VI. Year-wise review of banking and financial market developments in India: 1947-48 to 2006-07.
VIII. Glossaries.
IX. Time-series financial data on India.
