Dictionary of Money, Banking & Finance

Money is the pivot around which a modern economy revolves. Finance is the life blood of business activities. Banking system, as an integral part of the financial sector, is the linchpin of any development strategy. Banking system, along with other constituents of the financial sector, helps to mobilise financial surpluses of an economy and transfers them to areas of financial deficit. It promotes savings by providing a wide variety of financial assets to the general public. Savings collected from the household sector are pooled together and allocated to various sectors of the economy for raising production levels. If the allocation of credit is judicious and socially equitable, it can help achieve the twin objectives of growth and social justice. This dictionary is designed to provide a useful, reliable, readable and single source guide to the all-pervasive field of money, banking and finance. It provides simple and easily comprehensible definitions and explanations of terms used in these areas world-wide. The terms, concepts and usages are given their most common definition. Readers will also find helpful illustrations of important terms. This reference work is intended as a practical tool for a cross-section of readership. It will be useful for teachers and students of economics, commerce, law, and management, and also for bankers, corporate executives, legislators and government officials. Meticulously cross-referenced, the dictionary is a comprehensive and invaluable source of essential information.