Money, banking and finance are at the heart of an economic system. A modern economy, characterised by acute specialisation and exchange, is unthinkable without money, banking institutions, financial markets and financial instruments. The present work provides a fairly exhaustive account of the evolution and present structure of monetary, banking and financial system of India, with focus on post-1991 period. The book is organised into three parts. Part I of the book deals with forms and functions of money (including e-money), role of the Reserve Bank of India (RBI) in monetary and credit management, and the evolution of monetary policy in India since Independence in 1947, focusing on post-liberalisation (1991 onward) period. Part II describes and critically examines the functioning of various banking institutions in India, covering commercial banks, regional rural banks, urban co-operative banks, rural co-operative credit institutions, and development banks. Apart from these regular banking institutions, a number of other financial organisations play a significant role in the Indian financial system. Among them, the following three are also covered in this part of the book: non-banking financial companies, mutual funds and insurance organisations. Part III begins with the role of financial system in economic development. It traces the evolution of India's financial system since Independence and explains its present structure. It focuses on the reform measures introduced in money market, government securities market, capital market, corporate debt market, credit market, and foreign exchange market. It also dwells on payment, clearing and settlement systems, integration of financial markets, and emergence of financial derivatives in India.