The Indian financial system has been almost completely transformed to keep up with the changing economic scenario, necessitating a thorough revision of this text-book. The Fourth Edition of Indian Financial System takes into account these changes in all their complexities, yet retaining the original focus on the analysis of the principles and practices in the money market, capital market and foreign exchange market. This textbook covering major concepts, regulations and practices in the working of financial intermediaries, capital market, money market and foreign exchange market. It puts the Indian financial system in perspective, making it perfect for students of business administration and economics as also for those appearing in professional exams such as CA, CFA and ICWAI.