Bombay money market

The structure of the Bombay money market and to analyse its working. The field covered is at once wide and narrow. In seeking to give an account of how the money market functions from day to day, this work has been necessarily factual in character and devoid of abstract discussion. At the same time, in order that the varied activities of the money market may be understood in their proper perspective, I have sought to cover almost its entire range, mainly because a similarly compre hensive study is not available. In consequence the work will probably appear sketchy to those seeking an exhaustive treatment of each topic. It has been my endeavour to so balance the work as to make it neither too heavy nor too long, but I am not unaware of the many shortcomings inherent in an introductory work of this type.

I trust that a down-to-earth study such as this, besides being useful to bankers and businessmen, will go some way in bridging the gap which exists between the market place and the classroom. Inadequate under standing and misconceptions of the money market are largely due to the non-availability of precise works. By attempting to remove this deficiency I hope to enable students of theory and practice to proceed on a firmer foundation.