Financial Sector Reforms and Indian Securities Market

The Indian securities market has undergone metamorphosis during the period 1990-2000. A plethora of changes have taken place and many reforms are being introduced to increase the efficiency of the market. This book tracks the important reforms that have taken place, their impact and investor perception about the same. Any market will not flourish in vacuum. Many people take active part in the market playing different roles. A brief description of the roles played by the intermediaries has been given to understand the functioning of the market. To be effective it requires a proper regulator and therefore a comprehensive record of the activities of SEBI has been portrayed in this book. A brief record of the arrival of much awaited derivatives and their growth has been presented for readers to have clear understanding of the intricacies of the derivatives market. It also presents the growth of the Indian securities market in brief with the help of the quantitative figures. All these efforts are being made keeping investor at the epicenter and it is important to know whether they could create the required impact. At times it may so happen that the impact created by these efforts might not have reached the end user. Therefore a study has been undertaken to know the perception of the investor about the reforms, the role of SEBI and their preferences in terms of investment alternatives and their attributes of risk and return. In a nut shell it gives the history of what has happened in the Indian securities market and provides for the understanding for the road ahead of us.