Financial markets and institutions need to evolve considerably in order to keep up with the requirements of Indian firms and Indian investors in coming years. The corporate bond market is moribund and will have to be revived and a number of missing markets will have to be created, including exchange traded interest rate and foreign exchange derivatives contracts. But even in markets that exist, apart from the equity market for large capitalisation stock, the ability to trade consistently at low cost and the tendency of market prices to reflect fundamentals are typically low for most markets. This book contains 14 papers, authored by scholars in the field, which deal with various dimensions of emerging financial scenario in India. The book is topical and useful for a cross-section of readership.