Concept:The money market deals with short-term borrowing, lending, and trading of near-money assets.
Explanation:Commercial banks are major participants in the money market.
They deal in short-term instruments such as treasury bills, commercial paper, and call money.
Building societies and development banks focus more on long-term savings and capital finance.
The stock exchange is part of the capital market, not the money market.
Hence, among the given options, commercial banks are directly involved in the money market.
Answer:C. Commercial banks