Money Market is a market for purely short-term funds. It deals with the financial assets and securities whose maturity period does not exceed one year.
Money Market is the segment of financial markets where in financial instruments having maturities of less than one year are traded. Examples: Treasury Bills, Commercial Bills, Certificate of Deposits, Government Securities, etc.,
According to Crowther, ”the money market is the collective name given to the various firms and institutions that deal in the various grades of near money”.
The RBI defines the money market as, “a market for short-term financial assets that are close substitutes for money facilitates the exchange of money for new financial claims in the primary market as also for financial claims, already issued, in the secondary market”