29 March 2014
The money market is the market in which short term funds are borrowed and lent. The lending money market institutions are:
· Government of India and other sovereign bodies.
· Banks and development financial institutions.
· PSUs (public sector undertakings).
· Private sector organizations.
· The government/ quasi government owned non-corporate entities.
Large numbers of instruments that are trade in the money market are issued by government of India, state governments and other statutory bodies. Instruments that are issued by the Development Financial Institutions (DFI) and banks carry the highest credit ratings among non – government issuers mainly due to their connection with the Indian government.
Instruments of money market
· Call money
· Treasury bills
· Certificate of deposits
· Commercial papers
· Inter corporate deposits
· Ready forward contracts
· Commercial bills
· Pass through certificates
· Dated government securities
· Money market mutual funds.
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