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Copy of Indian Financial System(4)

Copy of Indian Financial System(4)

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Published by swastik_atrish96

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Published by: swastik_atrish96 on Apr 30, 2012
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04/13/2014

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For the rapid growth of any country, an efficient and developed financialsystem is required. The evolution of the Indian financial systemfalls 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 financial institutions
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
 
An institutional framework existing in a country toenable 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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