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The Indian Money Market
What is a Money Market?
A money market is a one that deals in short-term loans or financial assets. It refers to the market for short-term requirement and deployment of funds where participants lend and borrow. It is a market wherein financial institutions (FIs) work together for the purpose of dealing in financial or monetary assets, generally referred to as near substitutes of money, which may be of short-term or long-term maturity. ‘Short-term’ implies, generally a period up to one year and the term ‘near substitutes of money’ refers to financial assets which can be quickly converted into money with minimum transaction cost. One of the most appropriate and meaningful definitions of money market is that of Geoffrey ...
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