• 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 ...

The Primary Market for Securities
The primary market for securities

As mentioned earlier, the primary market and the secondary market both are the market for securities. While the former is concerned with raising of funds through the issue of new securities, the latter helps generate liquidity and price level for securities. However, both of them are complementary to each other. The primary market is discussed in the present chapter followed by the discussion of the secondary market in the next chapter. The Indian companies are now making use of the international primary capital market for the raising of funds but this aspect will be discussed in the subsequent part of the book dealing with the internationalisation of capital market.

Features of Primary Market

In the primary market, the ...

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