The Reserve Bank of India has promoted research right from the early years of its existence. Excellent research papers have been prepared by some of the outstanding economists of the Bank. Barring exceptions, the invaluable research embodied in these papers has not been 'widely' disseminated. Former Executive Director, Dr. A. Vasudevan has utilized his lifetime of experience at the central bank to painstakingly edit the present collection of research papers (organised under four sections) with a comprehensive introduction. According to Dr. Vasudevan ""The objective of the volume is not to include articles in a large number of areas but to include only those that focus on money, monetary policy and banking issues - areas in which the Reserve Bank's expertise is widely recognized.