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Today, with the financial sector experiencing an unprecedented boom due to a variety of factors such as liberalisation, globalisation and consumer spending, the subject of this book has become more important than ever before. And this book compresses, within the covers of a single volume, the entire gamut of financial markets, institutions and financial services. Divided into three parts— Part I on Financial Markets deals with different Indian and global money markets, and primary and secondary markets. It also covers stock exchanges and their trade mechanism, foreign exchanges, as well as capital markets and their regulations; Part II, Financial Institutions covers diverse banking and non-banking institutions and their legislation; Part III, Financial Services discusses about the financial services which include mutual funds, lease financing, securitisation, and credit and debit cards. Key Features A unique attempt to comprehensively analyse, within a single volume, the working of the three pillars of the financial system—financial markets, financial institutions, and financial services. Gives updated and latest financial data and related information on the subject. Provides tables and diagrams to illustrate the concepts, and questions (short answer and long answer/essay type) to test the comprehension skills of the students. Intended primarily as a text for the undergraduate and postgraduate students of Commerce, this accessible text will prove to be extremely useful also for the postgraduate students of Management, Economics, as well as for competitive examinations. In addition, it will be a ready reference for Chartered Accountants and all those who would like to acquaint themselves with Indian banking and capital market. Table of Contents Foreword  Preface  Abbreviations Part I: Financial Markets 1. Introduction 2. Financial System Section A: Money Market 3. Indian Money Market 4. Global Money Markets Section B: Capital Market 5. Indian Capital Market 6. Capital Market Instruments 7. Regulation of Capital Market 8. The Primary Market 9. Secondary Market 10. Stock Exchange 11. Derivatives 12. Trading Mechanism of Stock Exchange 13. Recent Trends in Indian Capital Market 14. Government Securities Market Section C: Foreign Exchange Market 15. Foreign Exchange 16. Exchange Control 17. Foreign Exchange Market Part II: Financial Institutions Section A: Banking Financial Institutions 18. Banking—Origin and Evolution 19. Commercial Banking 20. Sources and Application of Bank’s Funds 21. Systems of Banking 22. Central Banking 23. Commercial Banking in India 24. Banking Legislation in India 25. Changing Role of Commercial Banking in India 26. The Reserve Bank of India 27. Cooperative Banking in India 28. Foreign Banking Systems Section B: Non-Banking Financial Institutions 29. Industrial Finance and Institutions 30. International Financial Institutions Part III: Financial Services 31. Introduction 32. Merchant Banking and Investment Banking 33. Mutual Funds 34. Lease Financing 35. Factoring and Forfaiting 36. Venture Capital 37. Securitisation of Debts 38. Credit Card 39. Credit Rating 40. Project Management Index