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Table Of Contents

The functions of money market are as follows:
1. MONEY MARKET INSTRUMENTS
Features
2. TREASURY BILLS MARKET
4. CERTIFICATE OF DEPOSITS MARKET
6. COMMERCIAL PAPER MARKET
ADVANYAGES OF CP¶s
7. READY FORWARD CONTRACT
Uses of REPO¶s
8. Commercial Paper
3. Evolution of money market in India
(a) Operation of the central or organized part of the money
market
Commercial Bills Market
Treasury Bills Market
Certificate of Deposit (CDs)
Commercial Papers (CPs)
Discount and Finance House of India (DHFI) AND Securites
Trading Corporation of India (STCI)
4. Recommendation of various committees
Recommendation of Narasimham Committee (April 1998)
5. Major Reforms in Indian Money Market
Deregulation of Interest Rates
Integration of Markets
Primary Dealers
Valuation of securities
Foreign Institutional Investors (FIIs)
Developments in the Money Markets
Call/Notice Money Market
Term Rate
Money Market Mutual Funds (MMMFs)
Repos and Reverse Repos
6. Needs for imbibing depth to the market
Diversifying investor base
Settlement system reforms
Transparency
Short selling
Primary dealers
Awareness
Retailing of government securities
Market Microstructure
Standardization of Practices
Risk Management
7. INTEREST RATE SWAPS
7.1 INTRODUCTION
Derivatives
The principle features of an interest rate swap are:
Introduction of Forward Rate Agreements and Interest Rate
Swaps
The Indian scene (Source: RBI Guidelines)
Objective
Prerequisites
Description of the product
Benchmark rate
Size
Tenure
Capital adequacy
Exposure limits
Swap Position
7.2 Why do firms enter into interest rate swaps?
Swaps for a comparative advantage
8. HISTORY AND EVOLUTION
9. A BRIEF LOOK AT THE GLOBAL MARKETS
PRESENT SCENARIO OF THE INDIAN MARKET
9.1 Genesis of the Interest Rate Swaps in India
9.2 The Legal Framework: RBI Guidelines (Summary)
9.3 Trends in Indian Markets
10. OBSTACLES TO DEVELOPMENT OF IRS IN INDIA
11. CONCLUSION
12. Suggestions
BIBLIOGRAPHY
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Money-Market4

Money-Market4

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Published by: hurshanandwala on Apr 08, 2011
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