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and
capital market
Money Market
Call/Notice money
All categories of banks and financial institutions
are allowed to participate in call/notice money.
The funds are lent for one day or from Saturday
to Monday or for a period of 14 days.
Commercial Bills
Used to facilitate credit sales.
Can be discounted with banks, when people are
in need of funds.
Instruments of Money Market
Treasury Bills
Promissory notes issued by the Central govt. to
raise short term funds to bridge short term
mismatch between receipts and expenditure.
Commercial Paper
Unsecured promissory notes of short-term
maturity of highly rated companies, issued tom
meet working capital requirements.
Certificate of Deposits
Introduced by RBI in 1989
Issued by banks at a discount and face value is
payable at maturity..
Instruments of Money Market
Consists of
1. Organized Sectors
2. Unorganized sectors
Indian Capital
Market Structure
Capital Market
Govt. Corporate Bonds Mutual Banks Deposits Loans & Post office
Securities securities Funds deposits with advances of Deposits &
companies bank &FI certificates
1. Grant of Recognition
The Act provides that only recognized stock
exchanges can function in the country.
As of today, all the 23 stock exchanges have
been recognized by the govt.
The grant of recognition of the stock exchange
shall be published in the Gazette of India and
will come into effect from the date of
publication in the gazette.
Provisions
2. Submission of Returns
Section 6 of the Act lays down that every stock
exchange shall furnish to the central govt. such
periodical returns as may be prescribed relating
to its affairs.
The periodical returns shall be filled by the
recognized stock exchanges before 31st January
each year.
Provisions
1. Online Purchasing
Many of the stock exchanges in India automated their
activities.
Introduction of ELOB( Open Electronic Limit Order Book
Market Scheme) made customers to purchase shares
through online.
2. Nationwide Integrated Markets
Nationwide integration has been made possible though
satellite communications.
Nationwide integrated markets help the trader any where in
India to have equal access to the markets.
Trends in Stock Exchange