Indian Capital Market - Evolution and Growth
The period between 1947 and 1973 marked the
development of infrastructure for capital market. During this period, a network
of development financial institutions such as IFCI, ICICI, IDBI and UTI, SFCs
and SIDCs were established. These financial institutions strengthened the
capital market.
During the period between 1980 and 1992, debenture
emerged as a powerful instrument of resource mobilization in the primary
market. The public sector bonds were introduced. A number of stock exchanges
came into existence. There was a momentous growth in the secondary market.
SEBI emerged as an effective regulatory body for
the primary and secondary markets and afford a measure of protection to small
investors. New financial services such as credit rating was introduced.NI
A number of committees were constituted in order to
suggest measures to revamp and restructure the working of the secondary market
and cause buoyancy in the primary market. Some of these committees were:
Committee on Organization and Management of Stock Exchange, Working group on
the Development of the Capital Market, A Study Group for Guidelines Relating to
Valuation and New Instruments, A High Powered Study Group on Establishment of
New Stock Exchange, A Committee on Trading in Public Sector Bonds and Units of
Mutual Funds.
Related Topics
Privacy Policy, Terms and Conditions, DMCA Policy and Compliant
Copyright © 2018-2023 BrainKart.com; All Rights Reserved. Developed by Therithal info, Chennai.