Money Markets

Money Markets
The history of India's sovereign commercial borrowings in the post-reform period shows how the government has been resorting to soft options with deleterious long-term consequences. The latest five-...
The role of bank credit and its distribution in mitigating the current macroeconomic malaise needs better recognition. Historical studies of the income-elasticity of demand for credit suggest that a...
Development on the exchange rate front and the Reserve Bank of India's response to them have raised the issue of the basic approach to exchange rate management. The RBI seems to be falling between...
The liquidity adjustment facility introduced by the Reserve Bank comprising variable rate repo and reverse repo auctions has already exposed the imperfections of the Indian money market.
The indications, currently visible, of liquidity strain and of pressure on short-term interest rates portend a difficult financial scene in the months to come.
The measures undertaken by the Reserve Bank to strengthen indirect instruments of monetary control raise two crucial issues: first, the macro perspective embedded in the structural measures and,...
The liquidity support required from the Reserve Bank to sustain the reduced levels of Bank rate and repo rate may turn out to be large as there may arise a notable disjunction between these two rates...
Operations in government securities have overwhelmingly dominated both the primary and secondary markets to the neglect of primary lending for productive purposes. The Budget for 2000- 2001 promises...

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