About the Book: Financial System and Financial Institutions in India
Finance is the mainstay of any development strategy. The financial system
promotes savings by providing a wide variety of financial assets to the general
public. Savings collected from the household sector are pooled together and
allocated to various sectors of the economy for raising production levels. If
the allocation of credit is judicious and socially equitable, it can help
achieve the twin objectives of growth and social justice. In India, financial
institutions (intermediaries), which provide a meeting ground for the savers and
the investors, form the core of the countrys financial sector. Through
mobilization of resources and their