Contents: part I: institutions money and the payments system credit and the financial system financial markets the reserve bank of India commercial banks commercial bank ii co-operative banks development banks non bank financial intermediaries unregulated credit markets part ii: theory the demand for money money and prices money, interest and income inflation theory of money supply the supply of credit and its allocation interest rates part iii: policy goals, targets and indicators instruments of control monetary credit policy of the reserve bank of India appendices references index