The book Advanced Study in Money and Banking : Theory and Policy Relevance in the Indian Economy is a complete treatise on banking and global financial developments with special reference to DMCs and the Indian economy. It provides an invaluable, up-to-date and refreshing approach to key development issues pertaining to monetary theory, banking and policy matters. The theoretical, institutional and historical approaches have been skilfully integrated to explore and elucidate the interrelationships of money and banking and the functioning of the economy as a whole. The analytical study of the main operational ratios of banks for the period 1998 to 2003 gives an overview of the bank street scenario. In its wide perspective, the book includes a comprehensive study of banking and information technology, mechanism of international payments, and international monetary policies and monetary cooperation. Above all, against the backdrop of economic uncertainty and the low ebb in economic activity, volatility in stock markets and significant fluctuations in major currencies of the world, the Indian monetary policy during the period of 1952-2003 has been extensively discussed. Simple graphs and up-to-date economic models provided in the book enable the readers to have an easy and accurate understanding of the subject. The book would be of great interest and use for students and teachers of economics, commerce and business management. The bankers and legislators concerned with monetary and banking policies would find the book highly useful.
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