Indian Financial Markets

Index 239

Provident fund, 105

PSE. See Public sector entities

PSU. See Public sector unit

PTC. See Pass through certificate

Public policy, 204

Public savings rate, 25

Public sector entities (PSE), 95

Public sector unit (PSU) banks, 95, 174, 176

bonds, 97

privatization of, 178

Q

Qualified Institutional Buyers (QIBs), 207

Quantum mutual fund, 187

R

Raghunathan, V., 102n

Raghuram Rajan committee, 194

Rajan, R., 40n5, 195n

RBI. See Reserve Bank of India

Ready Reckoner rates, 136

Real effective exchange rate (REER), 162,

162f, 163

Real estate

accuracy of prices, 135, 136

needs of financial sector, 140–142

price trends in, 133–135

property development, 136–138

Real Estate Investment Trusts (REITs), 147

Real estate market

financial, 140–142

infrastructure, 144–146

investors in, 146–148

malls, 144

residential, 138

sensitive issue of corruption, 149–151

SEZs, 139, 140

slum redevelopment, 142–144

title and transparency in, 148, 149

Real estate transparency index, 149

REER. See Real effective exchange rate

Regional rural banks (RRBs), 173

Regulation

of corporate bonds, 109, 110

derivatives markets, 130

of institutional investors, 195

and market access, 93

of nonfinancial firms, 43, 44

spot market, 129, 130

Regulatory agency, 197, 201

REITs. See Real Estate Investment Trusts

Repo rate, 82

Reserve Bank of India (RBI), 82, 159, 168,

195–196, 201

and SEBI, difference between, 202t

transactions of, 156f

Residential property values, 138

Resilience, of liquidity, 65

Resilient financial market, 65

Reverse repo rate, 82

R.H. Patil committee, 194

Risk management, 179–180

of exchanges, 205

SEBI’s role in, 205

Round market, 64n

RRBs. See Regional rural banks

Rupee

forward market, 155–156

spot market, 153–155

Rupee-dollar forward market, 155

Rupee-dollar rate, 157

characteristics of, 161t

S

Sales

gross, 34, 34n2

of motor vehicle, 20t

SARFAESI. See Securitization and Reconstruction

of Financial Assets and Enforcement of

Interest Act

Sarkar, S., 174n

Sarva Shiksha Ahiyan (SSA), 26

SAT. See Securities Appellate Tribunal

Savings rate

corporate, 25

domestic, 25

gross, 25

in households, 8

increase of, 9

public, 25

SBI. See State Bank of India

Scale economy, 198, 205

Schmukler, S., 187n12

Scope economy, 198

SEBI. See Securities and Exchange Board of India

Securities, 21

issuance, 207

lending mechanism, 208

transactions tax, 199, 215

Securities and Exchange Board of India (SEBI), 44,

53, 131, 141, 167, 168, 185, 189, 196, 197

dedicated three-member bench, 211

enforcement actions, 210, 211

in permitting derivatives trading, 206

policy issues at, agenda for, 201

and RBI, difference between, 202t

for regulation of PE, 50

role in risk management, 205

staff training at, 211

transparency and information disclosure,

209, 210

Securities Appellate Tribunal (SAT), 210

Securities firms, 70

activities of, 169

tariff charged by NSDL to, 173t

Securities general ledger (SGL), 90

Securities markets, 11, 42

Securitization, 99, 109, 194

Securitization and Reconstruction of Financial

Assets and Enforcement of Security Interest

(SARFAESI) Act, 110