6.01: The National Stock Exchange (NSE) considered as a rival exchange to the Bombay Stock Exchange (BSE) is India's leading Stock Exchange covering more than 160 cities and towns across the country. It provides a modern fully computerized trading system designed to offer investors across the length and breadth of the country a safe and easy way to invest or liquidate investment in securities. It was incorporated in November 1992, recognized as a Stock Exchange in April 1993, went live for debt markets in June 1994 and commenced Capital Market Operations in November 1994. Today it is the largest exchange in India with a net work that trades 1400 equity stocks and 500 debt securities. It has over 1000 trading members. The Companies listed on NSE are selected, based on their paid-up capital, market capitalization, dividend payment and a good track record. The criteria is meant to ensure that only companies that meet certain standards are listed. The list is reviewed at periodic intervals. From 26th December 1996, the NSE has started trading in depositary scripts. Its debt market operations average 270 crores (US$ 75 Million) a day and capital market operations average more than Rs.1200 crores (US$ 340 Million) a day.
6.02: National Securities Clearing Corporation Ltd. (NSCCL) a subsidiary of NSE is India's only Clearing Operation that guarantees financial settlement and offers clearing operations in 4 large cities of India.
| Nature of
the Securities Markets in India| Indian Financial System | Reserve Bank of India [RBI] |
Securities & Exchange Board of India [SEBI] | Evolution of Stock Exchanges in India |
[BSE] | [OTCEI] | [NSDL] | Overview of Securities
Transactions in India |
Legal Frame Work of the Indian Capital Markets | Expansion of Securities Laws In India |
Present and proposed Governing Securities Laws In
India | Corporate VIAGRA |