• 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 Secondary Capital Market
The secondary capital market

The trading of the listed securities at the stock exchanges, often known as the secondary capital market transactions, is nothing new for India. As far back as in 1875, the Native Share and Stock Brokers' Association, now known as the Bombay Stock Exchange (BSE) was set up, followed by some other stock exchanges in major cities. By the end of 1990, there were 19 stock exchanges in the country with a market capitalisation of over Rs. 70.5 billion. In order to regulate this market, the Indian government had passed the Securities Contracts (Regulation) Act as back as in 1956. But the Indian stock market remained underdeveloped till the early 1990s with the result that the pricing, delivery and ...

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