Money: definitions, functions, measures of money supply in india; Concept of high powered money (H); Financial system: functions and importance; Financial markets: structure and different markets; Central bank: its functions; Commercial banks:functions, balance sheet; co-operative banking system in India; Development banks;Non-bank financial intermediaries; Unregulated credit markets; Allocation of institutional credit; Interest rate: heterogeneity, interest rates differentials, equalizing and non-equalizing differences in interest rates; New financial developments: Narasimham committee report on financial system.
Text:
1. S. B. Gupta, Monetary Economics: Institutions, Theory and Policy, S.Chand and Co.Ltd, 2002
References:
1. L. V. Chandler and S. M. Goldfeld, The Economics of Money and Banking, Harper and Row, 1977.
2. S. B. Gupta, Monetary Planning in India, OUP, 1995
