Bachelor of Arts (B.A.) Indian Financial System Syllabus - Mumbai University 2026
Syllabus for Indian Financial System
The University sets this paper under Minor only, so your college may not run it.
Module 1: Fundamentals of the Indian Financial System (15 Hours)
- Introduction: Meaning, characteristics, components, and significance, Evolution and Economic, Development: The relationship between the financial system and economic growth, Indicators of Financial Development: Understanding and application of FR, FIR, NIR, and IR, Key Trends and Reforms: Indian financial sector from 1991 to 2026 (with a focus on recent reforms)
Module 2: The Indian Banking Sector: Progress, Performance, and Challenges (15 Hours)
- Banking Development in India: An overview of the historical evolution of banking, Commercial Banking: Functions, operations, and Nationalization phase, Post-Reforms (1991) Developments: Significant changes and trends in commercial banking, Asset Quality Management: Dealing with Non-Performing Assets (NPAs) and the concept of a 'Bad Bank', Specialized Institutions: The Mudra Bank scheme. Financial inclusion through the Pradhan Mantri Jan Dhan Yojna (PMJDY), Regulatory Responses: Initiatives from the RBI for banking sector development. (consumer protection, inclusion, digital transformation, etc.)
Module 3: Non-Banking Finance Institutions (NBFIs) in India (15 Hours)
- NBFI Development: Historical overview and growth trajectory, Structure and Role: Components, different types, and their function in the financial system, Regulation: The regulatory landscape for NBFIs, Specific NBFI Types: In-depth study of Provident Funds, Pension Funds, and Venture Capital Funds, Progress and performance: The performance evaluation of NBFIs.
Module 4: Financial Markets: Classification and Reforms (15 Hours)
- Money Market: Meaning, classification, Features and Reforms, Capital Market: Meaning, Components, and Reforms, Role: Role of capital Market. Relationship: between the new issue market and stock exchange, Functions: of the primary and secondary market. Growth: Recent Boom in primary (New Issue) market.
Reference Books
- 1 Bhole, L. M. (2008). Financial Institutions and Markets, Growth and Innovation. Tata McGraw-Hill, New Delhi.
- 2 G. Ramesh Babu (2012). Indian Financial System(1st ed.). Himalaya Publishing house, Mumbai.
- 3 Khan, M.Y. (2007). Financial Services. Tata McGraw Hill, New Delhi.
- 4 Machiraju. (2002). Indian Financial system (2nd ed.). Vikas Publishing House.
- 5 Pathak, Bharati (2008). The Indian Financial System-Markets, Institutions, and Services (2nd ed.). Pearson Education, New Delhi.
- 6 Strong, R. A. (2002). Derivatives: An introduction. Thomson Asia Pte Ltd, Bangalore.
- 7 Varshney P N and Mittal D K. (2002). Indian financial system. Sultan Chand and Sons, New Delhi.
- 8 RBI, “Report on Trend and Progress of Banking in India” Annual publication