Major Stock Exchanges in India
A Stock exchange is an organised market for buying and selling shares and other securities. There are 23 stock exchanges in India are established. 21 are regional and two are national. Bombay Stock Exchange and National Stock Exchange (NSE) are the two national stock exchanges in India. SEBI is the regulatory and coordinating body for the functioning of the stock markets in India. Presently there are seven stock exchanges in india and the remaining stock exchanges are closed. Present Stock Exchanges are
1. Bombay Stock Exchange
2. National Stock Exchange
3. Calcutta Stock Exchange Ltd.
4. National Commodity & Derivatives Exchange Ltd.
5. Metropolitan Stock Exchange of India Ltd
6. Indian Commodity Exchange Limited
7. Multi Commodity Exchange of India Ltd.
■ OTCEI (Over the Counter Exchange of India)
Over the Counter Exchange of India was incorporated under the provisions of the Companies Act 1956 as a public limited company. It is a recognised stock exchange under the Securities Contracts (Regulation) Act, 1956. OTCEI is promoted by the Unit Trust of India, Industrial Credit & Investment Corporation of India, the Industrial Development Bank of India and the Industrial Finance Corporation of India and others. OTCEI closed in 2015.
■ National Stock Exchange (NSE)
The National Stock Exchange of India came into existence in 1992. The National Stock Exchange was approved in April 1993. In 1995, NSE became the largest stock exchange in India. It is located in Mumbai. The market index of the National Stock Exchange is known as Nifty. It is determined based on the market value of the shares of 50 companies listed on the NSE. On 1998 June 15, National Stock Exchange was launched two new Reference Rates for the loans of Inter-Bank Call Money Market. These rates are MIBOR (Mumbai Inter-Bank Offer Rate) and MIBID (Mumbai Inter-Bank Bid Rate). MIBOR will be the indicator of Lending Rate for loans while MIBID will be the lending rate of receipts.
■ Bombay Stock Exchange (BSE)
The Bombay Stock Exchange, the first stock exchange in India, was established in 1875. The Bombay Stock Exchange is located on Dalal Street in Mumbai. The institution operates in the 'Firoz Jijabai Towers'. The original name of BSE was The Native Share and Stock Brokers Association. It received permanent recognition from the Central Government in 1956. D.S. Prabhudas and Company (DSP) was the first company to be registered on the Bombay Stock Exchange. It also has the distinction of being the first stock exchange in Asia. The BSE stock index is known as the Sensex (since 1986). Sensex is an abbreviation of Sensitive Index. The term Sensex was coined by Deepak Mohoni. Sensex is determined based on the change in the market value of shares of 30 companies listed on the exchange. BSE introduced computer online trading named BOLT - BSE Online Trading in May 1995.
■ India INX
India International Exchange (IFSC) Limited, also known as India INX, is a stock exchange market which is a subsidiary of BSE (Bombay Stock Exchange) Ltd. It is India's first international exchange and is located at the Gujarat International Finance Tec-City (GIFT City) of Gandhi Nagar, Gujarat.
■ Cochin Stock Exchange (CSE)
Cochin Stock Exchange was an Indian stock exchange in Kerala fully owned by the Government of India. Cochin Stock Exchange (CSE) was established in 1978. Cochin Stock Exchange have membership in National Stock Exchange and Bombay Stock Exchange. Cochin Stock exchange stopped its trade in 2005 and closed in 2014.
■ Delhi Stock Exchange (DSE)
Delhi Stock Exchange (DSE), one of the oldest Stock Exchanges in india was established in the year 1947. Delhi Stock Exchange adopted computer online trading named DOTS (Delhi Online Trading System) from January 29, 1996. Delhi Stock exchange closed in 2017.
■ Securities and Exchange Board of India (SEBI)
The Securities and Exchange Board of India (SEBI) is the regulatory and coordinating body for the functioning of the stock markets in India. SEBI was established in 1988. It became a statutory body under the Securities and Exchange Board of India Act, 1992. SEBI came into existence on the recommendation of the G.S. Patel Committee. In India, SEBI is known as the "Regulator of Credit Rating Agencies". SEBI is headquartered in Mumbai.
UPSC/PSC Questions
1. The body that regulates and coordinates the stock markets in India - Securities and Exchange Board of India (SEBI)
2. SEBI came into existence - 1988
3. On the recommendation of which committee was SEBI established - G.S. Patel Committee
4. SEBI was legally granted statutory status - April 12, 1992
5. SEBI's headquarters - Mumbai
6. First Chairman of SEBI - S.A. Dave
7. SEBI formed a 20-member advisory committee to provide advice related to the functioning of mutual funds is - Usha Thorat Committee
8. Known as the "Regulator of Credit Rating Agency" in India - SEBI
9. The first Chief Minister of India to open the London Stock Exchange for trading - Pinarayi Vijayan (Chief Minister of Kerala)
10. The term used to describe a day's gain in the Sensex or Nifty - Rally
11. The term used to describe a situation where there are continuous gains in the market - Market Rally
12. The first stock exchange in Kerala - Cochin Stock Exchange
13. Cochin Stock Exchange was established - 1978
14. Cochin Online Trading came into existence - 1997
15. The market where companies directly offer shares to investors - Primary Market
16. Shares issued earlier in the primary market are known as - Secondary Market (Record Market)
17. The market for borrowing and lending for long-term capital - Capital Market
18. The market for borrowing and lending for short-term funds - Money Market
19. The first state-level institution in India to be listed on the foreign stock market - KIIFB
20. Ordinary share of a limited company - Equity share
21. India's largest stock exchange - National Stock Exchange of India (NSE, 1992)
22. Headquarters of NSE - Mumbai
23. NSE's stock index is known as - Nifty
24. National Stock Exchange's Knowledge Hub came into being - New Delhi
25. Economists who formed Nifty - Ajay Shah, Susan Thomas
26. Committee related to the formation of NSE - Pherwani Committee
27. The first stock exchange in Asia to issue public issues - Bombay Stock Exchange (1875)
28. BSE was initially known as - The Native Share and Stock Brokers Association
29. BSE is located at - Dalal Street (Mumbai)
30. BSE stock index is known by - Sensex
31. Full form of Sensex - Sensitive Index
32. Inventor of the word Sensex - Deepak Mohoni
33. The first company to be registered on BSE - D.S. Prabhudas & Company
34. Malayali appointed as Shareholder Director of BSE - T.C. Sushil Kumar
35. First Independent Woman Director of BSE - Jayshree Vyas
36. Stock market, a subsidiary of BSE - India International Exchange (India INX, 2017)
37. First International Exchange in India - India INX
38. India INX is located in - Gift City (Gandhi Nagar, Gujarat)
39. First Exchanges in India to enter into MoU with Moscow Exchange - BSE, India INX
40. First Exchange in India to be granted Designated Offshore Securities Market (DOSM) status by the United States Securities and Exchange Commission (SEC) - Bombay Stock Exchange
41. In order to provide information about the stock market to investors in a more convenient manner, Bombay Stock Exchange launches artificial intelligence-based chatbot called - Ask Motabhai
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