ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Enlarging the Scope of Money Markets

Enlarging the Scope of Money Markets R J Mody THE recent appointment of a working group by Reserve Bank to study the possibilities of enlarging the scope of the money market is a step in the right direction. The financial technology is underdeveloped in India. The development of financial assets, intermediaries and markets can improve the efficiency of resource allocation and help attain higher rates of economic growth. One reason why economic growth has been faltering in spite of higher rates of saving is that the financial mechanism allocating investible resources is underdeveloped.

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