• Summary
  • Contents
  • Subject index

India's Financial Sector deals with the reform measures undertaken in the financial sector and their impact. The impact is assessed in terms of growth in activities, profitability, financial stability, and financial inclusion among intermediaries such as banks, NBFCs and mutual funds, as well as in the financial markets. This book adds to the existing literature on the subject by offering an analysis of the impact that embraces not only the increased activities in the sector but also the issue of financial stability and financial inclusion.

The discussion is divided in three parts. The first part deals with financial intermediaries, the second explores the primary and secondary markets, and the third focuses on the internationalization of the Indian financial market. Further topicality is provided to the discourse ...

Mutual Funds
Mutual funds

Mutual funds are the other major financial intermediary collecting funds mainly from small investors and investing them in financial market securities. Till 1986, the entire mutual funds activities were vested in the Unit Trust of India (UTI). In 1987, a few public sector banks, Life Insurance Corporation of India and General Insurance Corporation, entered the mutual funds business. Again, it was in 1993 that private sector companies were allowed to operate in this area. Thus, in view of growing mutual funds activities, regulation became imperative and it was Securities and Exchange Board of India (SEBI) that began regulating them. It is not simply the regulation, several policy measures were taken to reform the functioning of this particular intermediary. The present chapter highlights ...

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