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The prime objective of the book is to provide executives, practitioners and management students an insight into the principles, operational policies and practices of the prominent Indian Financial Institutions which are in the money game and capital markets. The whole text has been discussed in Fifty-eight chapters, grouped in six parts. Part I consists of ten chapters and focuses on the macro-economic environment that has confronted the Indian Financial System, its Structure, its role and its dimensions. It also discusses analytically the key issues of the Financial System. IT argues that Finance matters in more ways than might be immediately apparent. Efficient Financial Systems help to allocate resource to their best uses and are indispensable in complex, modern economies. Varied Financial markets are discussed in ten chapters of Part II Money markets provide a flexible means for managing liquidity, a benchmark for market-based interest rates, and an instrument of monetary policy. Capital markets are a source of long-term finance-both debt and equity-and help to foster sounder corporate capital structure. In the nineties, the organized money markets have emerged as a backbone of the Indian vibrant economy. Part III deals with key market intermediaries of growing importance. It consists of ten chapters. Part IV deals with financial institutions and their structure, functioning in the changing economic scenario. The deepening and spreading of the financial system throws light on its diversity and innovations. It consists of ten chapters. Part V discusses different financial instruments in twelve chapters. The financial instruments cater especially to the growing needs of the economy. Part VI deals with the financial services in seven chapters. The financial services play a crucial role in driving the economy. During The five years the Indian financial systems has undersone sea changes in keeping with the world economic. Yet the Indian financial system has emerged stronger inspite f the world financial crisis, the study also has become more relevant in todays changing scenario. The support the study received is quite encouraging and inspiring. The book provides an insight into the financial system and its unique role in the economy. In short, the study acts as a motivator to pursue a career in the growing and innovative financial system. I shall feel duly rewarded, in meeting the needs of students squarely as well as in arousing adequate interest in the minds of readers and students on the important multi-dimensional facts of the Indian Financial System and assess its contributions to economic development and growth. About the Author Dr.Vasant Desai has been engaged in socio-economic research and written on industry, enterpreneurial management, rural economics, rural development, financial system, banking and monetary policy in the last fifty years. Throughout this period one of his persistent interests has been the study of economic problems in their socio-political enterpreneurial cultural and socio-economic setting. He has blended his wide experiences in teaching, research and banking to focus attention on issue in a lucid as well as in an authoritative manner. Dr.Desai has wide background of research in enterpreneurial development, management, Agriculture, rural development, savings, industry, banking, monetary economics and small-scale industries and has many opportunities with eminent economists, bankers enterpreneurs, industrialists and other authorites. His passion for knowledge has been responsible for the training of a band of young economists.