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State the nature of money market. Who are the major participants in the money market?

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Money market refers to transactions involving lending and borrowing of money for short periods like a day a week a month or 3 to 6 months. It meets the short term requirements. 

The major participants in the market are: 

1. Reserve Bank of India 

2. Commercial Banks, Cooperative Banks 

3. Non-Banking Finance Companies 

4. State Government 

5. Large Corporate Houses and Mutual Funds 

6. LIC, GIC, UTI, etc.

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