Indian financial system is one of the largest in the world with a broad variety of banking, financial and capital market institutions and instruments. What kind of structural changes in the Indian financial system are required to cope with an increasing complex and faster moving international economic and financial environment? Some of the important issues in the context of financial sector are: (1) Is there any need of heavy reforms in financial sector along with the adjustment process?; (2) Is it necessary that the reforms should be supplemented by significant inflow of foreign direct investments?; (3) Is the internal adjustment progress (for the promotion of exports) more important than the package of DFL, imported technology and enhanced productivity?; (4) Is there any relationship between inefficiency and adjustment process?; and, finally, (5) Is technical process pre-requisite for the success of adjustment process? Adequate attention to these may effectively take care of the distortions on the financial side and the process of reforms may be smooth, politically and administratively sustainable and bring the desired, effective and quick results by making the Indian financial system vibrant and competitive, a necessary concomitant of trade and industrial policy liberalization. Indian Financial System analyses the initiatives aimed at developing a healthy, efficient and market-oriented system by deregulating interest rates, development of market instruments for pricing public debt and bank loans, upgrading of India's regulatory and accounting standards to international norms, adjustments in monetary and financial policies, and exchange rate management for an increasingly liberalised and open economic and financial environment.

Over the last ten years, international financial markets and participants have been visited by several costly and contagious financial crises. Many factors have contributed to these events, including macroeconomic events and policies and internal management control failures. International financial markets and their participants-financial intermediaries and supervisory authorities-appear to be settling into a more steady pattern of growth and innovation, in marked contrast to the turbulence that characterised the transitional years from1992 to 1995. in fact, the global financial system appears to have emerged stronger and more resilient from the costly and disruptive crises of the previous years. The book contains valuable information regarding Foreign Portfolio Investment: An Overview; Regulatory framework; Process and Risk Factor; Financial Innovations and Risk Sharing; Investment Portfolio; Decision-Making: Theory and Practice; World Financial markets Growth; Capital Flow and Financial Systems in emerging Markets; Foreign Portfolio Investment and Indian Stock Market; International Investment and Finance: A Policy Framework for India, etc. This will prove an ideal textbook for the students concerned and a good reference book for the teachers.

Multinational corporations have become central actors of the world economy and, in linking foreign direct investment, trade, technology and finance; they are a driving force of economic growth. The task of international financial manager is to make the best possible tactical decision that the market has to offer on liabilities, within the strategic funding constraints set by currency denomination, maturity, and capital structure. The place to start learning about international financial management is therefore to gain a basic understanding of what and how financial decisions affect the value of the firm. (5th Revised & Enlarged Edition)

The International Financial Centres (IFCs) in underdeveloped countries are strategic mechanisms, which correspond to the internationalisation of production, which in turn occurred with the expansion of the Transnational Corporations (TNC) in the '60s. They were created around the year 1970 with the expansion of the Transnational Banking system and the internationalisation of capital. Main topics, elaborately, discussed are: International Financial Centres: An overview; Causes of the Creation and Expansion of International Financial Centre; Functions of the International Financial Centres; Internationalisation and Hegemony of Finance Capital; Changing Forms of Articulation of Finance Capital and Prospects for IFCs; Case for Bombay International Financial Centre, etc. This work analyses the origin of the International Financial Centres and their role and function within this new articulation of the international system under the hegemony of finance capital. The students, researchers, academics, financial managers and consultants will find this book most useful and informative.