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UNIT 5 MONEY MARKETS

;. !efinance ,y !,I $%#he !,I uses refinance faci(ities to )arious sectors to meet (i uidity shorta'es and contro(

the credit conditions. At present t&o schemes of refinancin' are in operations $% E>port creditrefinance and 'enera( refinance.

!,I has kept the refinance rate (inked to bank rate.chan'e spot andfor&ard dea(s.

. !e'u(ation Of N,F+s$%In 1 * !,I Act &as amended and it pro)ided a comprehensi)e re'u(ation for non bank

financia( companies 5N,F+s6 sector. Accordin' to amendment* no N,F+ can carry on any business of a financia( institution inc(udin' acceptance of pub(ic deposit* &ithout obtainin' a+ertificate of !e'istration from !,I. #hey are re uired to submit periodic returns to !,I.

1 . !eco)ery Of 3ebts$%In 1 9 for speedy reco)ery of debts* !,I has set up specia( !eco)ery #ribuna(s. #he

2pecia( !eco)ery #ribuna(s pro)ides (e'a( assistance to banks to reco)er dues.

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