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Financial markets are the centers that provide facilities for buying and selling of financial assets. Financial markets have developed significantly worldwide and are undergoing constant innovations to improve monetary impulses in different segments of the economy. Till the early 1990s, most of the financial markets in India were characterised by controls over the pricing of financial assets, restrictions on flows or transactions, barriers to entry, low liquidity and high transaction costs. These characteristics came in the way of development of the markets and allocative efficiency of resources channeled through them. From 1991 onward, wide-ranging financial market reforms have been implemented as a part of economic reforms measures. Financial markets in India are getting increasingly integrated, domestically and globally. Reform measures in terms of free pricing, removal of barriers to flows and broad-based participation have yielded results in terms of fairly high degree of integration of the money market, the government securities market and the foreign exchange market, although in varying degrees. Financial markets are at the core of the transmission mechanism of monetary policy. In India, financial markets have been developed with a specific emphasis on increasing allocative efficiency of resources and promoting financial stability. The purpose of this book is to provide an understanding of the organization, operation and working of financial markets and services in India. The areas covered include the following:
Capital Market
Primary Market
Participants in the Primary Market
Legislations and Regulators in the Capital Market
Secondary Market
Operators in the Secondary Market
Stock Exchanges
Bombay Stock Exchange
National Stock Exchange of India
Over the Counter Exchange of India
Stock Market Indices
Derivatives Market
Money Market Corporate
Debt Market
Government Securities Market
Securities and Exchange Board of India
Credit Rating
Factoring and Forfeiting
Discounting of Bills
Securitisation of Debt
Credit Information Bureaus.
Each chapter ends with two lists of questions:
(a) short answer type questions and
(b) essay type questions.
The book is designed to interest a cross-section of readers, viz. teachers and students of economics, commerce, law, public administration, business management, chartered accountancy and company secretaryship. It will also serve the needs of legislators, business executives, entrepreneurs and investors, and others interested in financial sector developments in India.
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ISBN
9788177083163
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