International Research journal of Management Science and Technology
ISSN 2250 - 1959 (online) ISSN 2348 - 9367 (Print) New DOI : 10.32804/IRJMST
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IMPACT OF FINANCIAL SECTOR REFORMS ON ECONOMIC GROWTH IN INDIA
2 Author(s): SHWETA GARG , SHIVANI GARG
Vol - 5, Issue- 3 , Page(s) : 151 - 196 (2014 ) DOI : https://doi.org/10.32804/IRJMST
The term ‘Finance’ in our simple understanding is perceived as equivalent to money. It is, however, not exactly money, rather a source of providing funds for any particular activity. The word ‘system’ implies a set of closely inter-connected yet separate institutions, agents, practices, markets, transactions and so on working together to achieve some purpose. Financial System thus imply a set of complex and closely connected institutions, agents, practices, markets, transactions, claims and liabilities that work together to provide funds for different economic activities. Conceptually, financial system includes complex institutional arrangements for mobilizing financial surpluses from surplus units and transferring these to deficit spenders.