Financial Services is a book on the fast-growing financial services industry of India. The book discusses the institutions, instruments, markets, regulations, and various other financial services offered in the financial system. The dynamic growth of the financial markets and the fast-paced reforms have opened up the need for financial intermediation, insurance, payment and settlement, and a host of other financial services. This book covers all those services. Two new chapters, Chapter 14 on Microfinance Institutions and Chapter 15 on Payment and Settlement Systems have been added in this second edition. While presenting each topic, the book focuses on the basic concepts, structure of the industry, regulatory issues, and the contemporary developments.
Author info
Dr R. Shanmugham is a former Professor of Finance and Accounting in Bharathiar School of Management and Entrepreneur Development (BSMED), Bharathiar University, Coimbatore, Tamil Nadu. He is well known in the academic circles as one of the senior most professors in Finance area who has more than four decades of teaching and research experience at the university level.
Table Content
Preface to the Second Edition
Preface to the First Edition
About the Author
List of Figures
List of Tables
List of Boxes
List of Acronyms
1 Financial Services
1.1 Introduction
1.2 Financial Services: Concept
1.3 Nature of Financial Services
1.4 Indian Financial System
1.5 Functions of the Financial System
1.6 Financial Services Industry in India
1.7 Recent Trends in the Financial Sector
1.8 Conclusion
2 Capital Market
2.1 Introduction
2.2 Financial Market
2.3 Capital Market and Money Market
2.4 Capital Market Instruments
2.5 Capital Market Participants
2.6 Capital Market Segments
2.7 Capital Market: The Regulatory Framework
2.8 Role of SEBI in the Indian Capital Market
2.9 Indian Capital Market: A Review
2.10 Conclusion
3 Money Market
3.1 Introduction
3.2 Money Market
3.3 Structure
3.4 Participants
3.5 Money Market Segments
3.6 Money Market Securities
3.7 Debt Market
3.8 Debt Market in India: A Review
3.9 Conclusion
4 Merchant Banking
4.1 Introduction
4.2 Concept
4.3 Investment Banking vs. Merchant Banking
4.4 Origin
4.5 Merchant Banking in India: A Historical Perspective
4.6 Categories of Merchant Bankers
4.7 Merchant Banking Functions
4.8 Issue Management
4.9 SEBI Regulations
4.10 Merchant Banking in India: A Review
4.11 Conclusion
5 Factoring
5.1 Introduction
5.2 Concept
5.3 Factoring vs. Banking
5.4 Mechanism of Factoring
5.5 Forms of Factoring
5.6 Benefits of Factoring
5.7 Problems of Factoring
5.8 Factoring Industry: A Review
5.9 Forfaiting
5.10 Conclusion
6 Credit Rating
6.1 Introduction
6.2 Rating Services
6.3 What is Credit Rating?
6.4 Uses of Credit Rating
6.5 Credit Rating Process
6.6 Rating Methodology
6.7 Rating Revisions
6.8 Equity Grading
6.9 Credit Rating Industry: A Review
6.10 SEBI and Credit Rating
6.11 Future of Credit Rating
6.12 Conclusion
7 Securitisation
7.1 Introduction
7.2 Concept and Definition
7.3 Need for Securitisation
7.4 Historical Perspective
7.5 Participants in Securitisation Process
7.6 Mechanism of Securitisation
7.7 Benefits of Securitisation
7.8 Problems
7.9 Regulatory Framework
7.10 Risk Assessment in Securitisation
7.11 Documentation
7.12 Securitisation: Global Scenario
7.13 Securitisation in India
7.14 Conclusion
8 Venture Capital
8.1 Introduction
8.2 Evolution of Venture Capital Finance
8.3 Venture Capital: De?nition and Characteristics
8.4 Venture Capital, PE, Angel Investing and Crowdfunding
8.5 Venture Capital Terminology
8.6 Venture Capital Investment Process
8.7 Advantages of Venture Capital
8.8 Forms of Venture Capital Assistance
8.9 Venture Capital in the US and Europe
8.10 Venture Capital in India
8.11 SEBI and Venture Capital Funds
8.12 Conclusion
9 Depositories
9.1 Introduction
9.2 De?nition of Depositories
9.3 Need for Depositories
9.4 Depository System
9.5 Depositories: Legal Framework
9.6 Bene?ts of Depositories
9.7 Role of Depositories in the Capital Market
9.8 Depository Services in India
9.9 Conclusion
10 Leasing
10.1 Introduction
10.2 Lease: Definition of the Concept
10.3 Lease vs. Other Sources of Finance
10.4 Types of Lease
10.5 Benefits of Leasing
10.6 Rights and Obligations of Lessor and Lessee
10.7 Lease Evaluation: Lessee’s Point of View
10.8 Lease Accounting
10.9 Leasing Industry: A Review
10.10 Conclusion
11 Mutual Funds
11.1 Introduction
11.2 Mutual Fund: Concept and Rationale
11.3 Features of a Mutual Fund
11.4 Structure of a Mutual Fund
11.5 Types of Mutual Fund Schemes
11.6 How does a Mutual Fund Generate Earnings?
11.7 Bene?ts of Investing in a Mutual Fund
11.8 Mutual Fund Regulations
11.9 Net Asset Value
11.10 Risks in Mutual Fund Investments
11.11 Mutual Fund Industry in India
11.12 Conclusion
12 Insurance
12.1 Introduction
12.2 Insurance: De?nition
12.3 Why Insurance?
12.4 Principles of Insurance
12.5 History of Insurance Industry
12.6 Types of Insurance
12.7 Regulatory Framework and Market Intermediaries
12.8 Insurance Industry in India: A Review
12.9 Conclusion
13 Non-Banking Financial Companies
13.1 Introduction
13.2 Non-Banking Financial Companies: De?nition
13.3 Classification and Structure of NBFCs
13.4 Salient Features of NBFCs
13.5 Types of Activities of NBFCs
13.6 Regulation of NBFCs
13.7 NBFCs: Prudential Regulations
13.8 Fair Practices Code
13.9 Reforms In The NBFC Sector
13.10 NBFCs: Performance Review
13.11 Conclusion
14 Microfinance Institutions
14.1 Introduction
14.2 Microfinance: The Concept
14.3 Evolution of Microfinance Institutions
14.4 Microfinance Models
14.5 Regulatory Framework For NBFC-MFIs
14.6 Benefits of Microfinance
14.7 Government Policy
14.8 Review of Performance
14.9 Conclusion
15 Payment and Settlement Systems
15.1 Introduction
15.2 Payment and Settlement Systems: Meaning
15.3 Importance of Payment and Settlements System
15.4 Financial Market Infrastructure
15.5 Payment Systems in India
15.6 Essential Features of Modern Payment Systems
15.7 Regulatory Framework: Payment and Settlements Act 2007
15.8 New Developments in the Payments Sector
15.9 Growth Trends
15.10 Challenges in Retail Payment Systems
15.11 Credit Cards, Debit Cards and Other Cards
16 Other Financial Services
16.1 Introduction
16.2 Stock Broking
16.3 Custodial Services
16.4 Registrars and Share Transfer Agents (RTAs)
16.5 Portfolio Management Service
16.6 Wealth Management Service
16.7 Conclusion
Summary
Key Terms
Practice Questions
Short Answer Type Questions
Review Questions
Discussion Forum
Answers
Edu Sites
Further Reading
Index
