The dynamics of the monetary system is undergoing significant changes in India. The entire concept and flow of money; narrow, broad or base, is being influenced by measures related to financial inclusion and also behavioural changes with respect to the increase in usage of plastic money and...

The problem of relationship between output and money has become again a subject of special interests of economists after the most recent global financial crisis and monetary stabilization policies applied by central banks of almost all developed economies. In this context, the main aim of this...