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Indian Financial System(4)

Indian Financial System(4)

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Published by Surender Singh

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Published by: Surender Singh on Nov 21, 2010
Copyright:Attribution Non-commercial

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09/17/2013

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Introduction
For the rapid growth of any country, an efficient anddeveloped financial system is required. The evolution of the Indian financial system falls in three distinct phases:
Pre – 1951 ORGANISATION
1.
Per capita output is low & constant
2.
Closed circle character of industrial org.
3.
Semi organized & narrow industrial securities market
4.
Absence of institutions participation in long term financing
5.
Restricted access to outside savings
6.
Financial system was not responsive to opportunities
 
1951 TO MID – EIGHTIES
1.
Public/Govt ownership of financial ownership of financialinstitutions
2.
Fortification of the institutional structure
3.
Protection to investors
4.
Participation of financial inst. In corporate management
5.
Finance & credit facilities become strengthen
6.
Nationalization ( RBI, LIC, GIC)
AFTER EIGHTIES
 
AFTER EIGHTIES
An institutional framework existing in a countryto enable financial transactions
 Three main parts
Financial assets (loans, deposits, bonds, equities, etc.)
Financial institutions (banks, mutual funds, insurancecompanies, etc.)
Financial markets (money market, capital market, forexmarket, etc.)
Regulation is another aspect of the modernfinancial system (RBI, SEBI, IRDA, FMC)

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