Economic development perspectives v.5

The present collection of papers, articles, addresses and abstracts have been put together in view of the recent concern in official circles over the high monetisation in the Indian economy. The Reserve Bank of India also has expressed from time to time the increase in liquidity position in the financial market and imposes credit controls in various sectors of the economy for better financial and monetary management. Of large concern is the "informal" credit market which functions parallel to the formal or organised sector but neutralises most of the attempts In the right directions.
The papers etc. in this volume together constitute a fairly representative picture of the cross-currents in the Indian monetary market and the role of the various financial institutions in the credit mechanisms. The volume also contains broad views of the International financial markets, the principles and applications of liberalisation, the role of commercial banks and the exchange rate mechanism.
In Its approach to the issues of monetary stability and the place of India In the global scenario the book Is of especial relevance for an under standing of the monetary management in a developing economy. Scholars, students, researchers and development banking/financial institution officials will find this book indispensable.