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    Capital Market Reforms

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    Ajay_Vishvanat_7694
    The document outlines several capital market reforms implemented in India since 1991, including abolishing the Controller of Capital Issues and granting statutory status to the Securities and Exchange Board of India (SEBI) to regulate stock exchanges. Key reforms were permission for foreign institutional investors, the establishment of the National Stock Clearing Corporation Limited, the introduction of book building and circuit breakers, and dematerialization starting in 1997. SEBI was also empowered to regulate collective investment schemes and given enforcement powers like search and seizure.

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    Capital Market Reforms

    Uploaded by

    Ajay_Vishvanat_7694
    8 views9 pages
    The document outlines several capital market reforms implemented in India since 1991, including abolishing the Controller of Capital Issues and granting statutory status to the Securities and Exchange Board of India (SEBI) to regulate stock exchanges. Key reforms were permission for foreign institutional investors, the establishment of the National Stock Clearing Corporation Limited, the introduction of book building and circuit breakers, and dematerialization starting in 1997. SEBI was also empowered to regulate collective investment schemes and given enforcement powers like search and seizure.

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    The document outlines several capital market reforms implemented in India since 1991, including abolishing the Controller of Capital Issues and granting statutory status to the Securities and Exchange Board of India (SEBI) to regulate stock exchanges. Key reforms were permission for foreign institutional investors, the establishment of the National Stock Clearing Corporation Limited, the introduction of book building and circuit breakers, and dematerialization starting in 1997. SEBI was also empowered to regulate collective investment schemes and given enforcement powers like search and seizure.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as ppt, pdf, or txt
    8 views9 pages

    Capital Market Reforms

    Uploaded by

    Ajay_Vishvanat_7694
    The document outlines several capital market reforms implemented in India since 1991, including abolishing the Controller of Capital Issues and granting statutory status to the Securities and Exchange Board of India (SEBI) to regulate stock exchanges. Key reforms were permission for foreign institutional investors, the establishment of the National Stock Clearing Corporation Limited, the introduction of book building and circuit breakers, and dematerialization starting in 1997. SEBI was also empowered to regulate collective investment schemes and given enforcement powers like search and seizure.

    Copyright:

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    of 9

    Capital Market Reforms (General)

    • CCI (Controller of Capital Issues) Abolished.

    • Statutory Status to SEBI.

    • Regulation of Stock Exchanges by SEBI.


    Capital Market Reforms (General)

    • Redressal of Complaints.

    • Permission of FIIs.

    • Norms for FIIs.


    Capital Market Reforms (General)

    • Permission to Indian Companies.

    • Strengthening of SEBI.

    • Setting up of OTCEI.
    Capital Market Reforms (General)
    • OTCEI
    - Incorporated in 1990 U/S 25 Companies Act
    1956
    - Recognized as Stock Exchange U/S 4 SC(R)A
    1956
    • NSCCL by NSE
    - Incorporated in August 1995
    - Commenced operations from April 1996
    Primary Market Reforms…
    ...since 1991-92
    • Merchant Banking.

    • Optional Underwriting.

    • Disclosure
    - Code of advertisement
    - Details to be specified in the offer document.
    Secondary Market Reforms…
    ...since 1991-92
    • Governing Body of Stock Exchange.
    • Capital Adequacy Norms (DP-Client Relationship).
    • Private Mutual Funds.
    • Depository Ordinance (NSDL & CDSL).
    • Book Building
    • Circuit Breaker
    • Short Selling
    Capital Market Reforms
    • Statutory market regulator
    -created in 1992.
    -empowered to regulate the collective
    investment schemes and plantation schemes.
    - strengthening of SEBI through compliance
    and enforcement powers including search and
    seizure powers.
    • Dematerialisation started in 1997.
    • Derivatives – Futures & Options.
    • Rolling Settlement.
    - T + 2 Rolling Settlement (clearing-settlement)
    • Spot Market.
    • Intraday settlement.
    • VaR.
    • SBTS (Screen Based Trading System).
    • Straight Through Processing (STP).
    • Real Time Gross Settlement system (RTGS).
    THANK YOU

    • Source : http://finmin.nic.in/the_ministry/dept_eco_affairs/capital_market_div/Capital%20Market%20Reforms.htm

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