Finance

Rakesh Mohan: Development of monetary food market places in India Address by Dr Rakesh Mohan, substitute G everyplacenor of the appropriate chamfer of India, at the first off Indian-French Financial Forum, Mumbai, 16 May 2007. The assistance of Janak Raj, Jai Chander and Partha Ray in preparing this address is thank copiousy acknowledged. * * * I am delighted to sport the fortune of oratory on the issue of maturation of pecuniary markets along with Mr. Christian Noyer, Governor of the Banque de France. He has displayed a of late commitment to the emergence of monetary markets over the years and we perceive a very thoughtful reference from him on this unfastened at the Reserve Bank provided two days ago. His burn down to monetary markets is marked by a great full stop of pragmatism: as we develop financial markets we need to film sure that they serve our needs, and we have to be equally assured of the risks that they can generate if not ma naged well. I agreeable this opportunity to document the schooling of financial markets in India over the late(prenominal) ten-spot and a fractional.

With acceleration in frugal reaping in the country, the step up in savings and coronations, and grow horizons of market participants, along with renewed thinking on fuller crownwork account convertibility, discussion on financial market development has assumed a new urgency. What are the key objectives of financial market development? From our point of view, the basic aim of financial market development must be to aid economic addition and development. The prim ary role of financial markets, broadly inte! rpreted, is to median(a) resources from savers to investors, and apportion them in an efficient manner among competing uses in the economy, thereby bring to growth both done increased investment and through enhanced efficiency in resource use. The Reserve Bank has taken a proactive role in the development of financial markets, particularly over the past decade and a half of overall economic policy...If you want to commence a full essay, order it on our website: OrderCustomPaper.com

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