Indian Financial System is specially designed to serve as an undergraduate textbook for B Com (Honours) students of University of Calcutta. The book seeks to provide an overview of the financial system as well as the financial markets in India. The book is divided into two modules. The first module includes topics on the financial system framework in India followed by the concept of money and the Indian banking system, development banks, and non-banking financial institutions. It also discusses the structure of the interest rate in India. The second module provides an overview of financial markets in India, followed by discussions on money market, capital market, investor’s protection, and financial services. With its simple explanations, supported by numerous flow charts, comparison tables, and case studies, the book will help students master the subject.