What is Money Market?

MONEY MARKET : Money market is a centre in which financial institutions join together
for the purpose of dealing in financial or monetary assets, which may be of short term
maturity. The short term generally means a period upto one year and the term near
substitutes to money denotes any financial asset which may be quickly converted into
money with minimum transaction cost.
Thus, money market is a market for short term financial instruments, maturity period of
which is less than a year. The deals are over the counter. The number of players in the
market are limited. It is regulated by Reserve Bank of India.