What is Financial Markets?
Financial Markets are marketplaces where individuals and institutions can buy and sell financial securities and products, such as stocks, bonds, currencies, and commodities. They facilitate the transfer of funds from those who have surplus capital savers to those who need capital borrowers and investors.
Historical Background
India's financial markets have evolved significantly since the 1991 economic reforms, moving from a largely controlled regime to a more liberalized and market-driven system. Key milestones include the establishment of SEBI in 1992, the introduction of screen-based trading, and the growth of various financial instruments.