It was in 1951 that State Financial Corporations Act was passed. In accordance with the provisions of the Act, first Corporation by Punjab Government was set up in 1953. At present there are 18 such corporations. Capital of the State Corporations: Each corporation can have a maximum authorised capital of Rs. 5 crores. The shares of the corporation can be [...]
List of financial instruments: 1. Equity 2. Fixed Income Securities 3. Derivative Securities 4. Structured Finance Securities 5. Participating Notes. 1. Equity: Though equity shares are usually associated with voting rights, some may have no voting rights. Others may have more than one vote per share—shares with differential voting rights (DVRs). American Depository Receipts (ADRs), Global Depository Receipts (GDRs) and Indian [...]
The Indian foreign exchange market is predominantly transaction based, and corporate purchases and sales of foreign currency are based on an underlying position. An underlying position is the need to buy foreign exchange to meet an overseas commitment, or the need to sell foreign exchange because of receipts of foreign currency. All foreign exchange transactions of Government of India are [...]