Indian financial system

Continued success of the book through its three editions is a matter of immense pleasure for me. It encourages me to revise and update the book again, to include new regulations and data for the benefit of my readers. The fourth edition thus presents up-to-date information on various topics, with comprehensive additions in several chapters. This edition presents a wide-ranging assessment of the financial sector and the international financial crisis, with focus on reasons why India escaped the financial calamity. It also deals with Basel II Guidelines and microfinance and studies in detail the demise of investment banks in the US. The role of capital market in project finance has also been discussed in this edition. The book strikes a good balance between savings and their intermediation through financial intermediaries, especially banks; regulations affecting money market, capital market and foreign exchange market; the role of the regulators, SEBI and RBI and the functioning of the regulator of regulators, as revealed by the Central budget. Finally, readers may note that the data, which go into a book of this sort, are available only after a considerable time lag. However, every effort has been made to provide the latest information available to the readers.