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INTRODUCTION
MONEY MARKET
It is a part of financial market where instruments with high liquidity and short term maturities (one or less than one year) are traded
FUNCTIONS
To maintain monetary equilibrium To promote economic growth To provide help to Trade and Industry
New Instruments
Now, in addition to the above the following new instrument are available:
Commercial papers. Certificate of deposit. Inter-bank participation certificates. Repo instrument Banker's Acceptance Repurchase agreement Money Market mutual fund
Integration of unorganized sector with the organized sector Widening of call Money market Introduction of innovative instrument
Promotion of bill culture Entry of Money market mutual funds Setting up of credit rating agencies
RBI
Commercial Banks Lenders Development Banks invest: Institutions Regional Rural Banks Foreign Banks SFCs, DFHI
Money lenders Indigenous Bankers Nidhis & Chit Funds Traders and Friends Brokers & Dealers
Govt appointed Sukhomoy Chakravarty in 1984 ,Vaghul working group and Narasimhan Committee (1992) to study & suggest measures to improve the working of Indian financial system.
The RBI has widened its control upon the NBFCs. Cheap remittance facility
The All India Bankers Association should act as liaison between various banks in our country so that an effective liaison between various banks government remitted stamp duty on bills which was a main hurdles in the bill system.
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