The Kernel of the present work with its unique concoction of innovativeness, eloquence, perspicaciousness and discernment is to capture the dynamically changing architecture, policies, strategies and practices of Indian financial markets and institutions and convey them to avid learners in a structured and stimulating manner. The present work is gravid with the following immanent features: it is an eclectic presentation of contemporary financial concepts, skills, techniques pertaining to management of financial markets and institutions. It presents a unique melange of a descriptive narration of the operations of the financial system with a sufficient amount of theory so that the learner understands the principles underlying therein. It is consecrated to provide an analytical view of dynamics of various financial markets and institutions operating in Indian financial system in terms of evolving vision, business models, innovative instruments, new architectures and new financial practices. It provides a balanced view of the various institutional participants and markets in the Indian financial system. It unwaveringly focuses on managerial aspects of the financial system which would be of great value to the learners. There is a glossary at the book that provides a terse view of key financial terms used in the text. As such, the work is expected to best suit the needs of practicing managers and learners pursuing management, commerce and other sectoral programmes.