• Summary
  • Contents
  • Subject index

India's Financial Sector deals with the reform measures undertaken in the financial sector and their impact. The impact is assessed in terms of growth in activities, profitability, financial stability, and financial inclusion among intermediaries such as banks, NBFCs and mutual funds, as well as in the financial markets. This book adds to the existing literature on the subject by offering an analysis of the impact that embraces not only the increased activities in the sector but also the issue of financial stability and financial inclusion.

The discussion is divided in three parts. The first part deals with financial intermediaries, the second explores the primary and secondary markets, and the third focuses on the internationalization of the Indian financial market. Further topicality is provided to the discourse ...

The Market for Government Securities
The market for government securities

Government securities market is an important segment of financial market creating a benchmark for the borrowing programme in the private corporate sector and subserving the objectives of both the fiscal policy and the monetary policy (Reddy 2002). The instruments are the treasury bills (T-bills) and the dated securities. While the T-bills are a short-term instrument of the central government involving maturity of less than a year, the dated securities are a medium/long-term instrument, both of them meeting the fiscal deficit of the government. Sometimes T-bills are converted into dated securities in order to allow a rollover of short-term debt on to a long-term period.

As far as the monetary policy objectives are concerned, the issue of these ...

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