In this article we will discuss about the role of NBFIs in influencing monetary policy. The Radcliffe Committee in Britain studied the growth of financial intermediaries since World War II and came to the conclusion that they adversely affected the power of Bank of England to control credit. Gurley and Shaw also came to the […]
Role of NBFIs in Influencing Monetary Policy
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Role of NBFIs in Creating Liquidity
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The following points highlight the two main views on the role of NBFIs in creating liquidity. The views are: 1. The Radcliffe Committee View 2. The Gurley-Shaw View. 1. The Radcliffe Committee View: Radcliffe – Savers Thesis: The Radcliffe Committee in its report did not accept the monetarist view that there was any direct link […]