This Exam Covers the Following Topics

1. Introduction to Indian Financial Market
   • Definition and overview of financial markets.
   • Organised and unorganised segments of the financial market.
   • Differences between the Money Market and the Capital Market.
2. Indian Money Market
   • Overview and structure of the Indian Money Market.
   • Components and instruments of the organised money market:
     • Treasury Bills (TBs)
     • Call Money Market (CMM)
     • Certificate of Deposit (CD)
     • Commercial Papers (CP)
     • Commercial Bills (CB)
     • Mutual Funds (MF)
     • Repo and Reverse Repo Markets
     • Cash Management Bill (CMB)
   • Unorganised money market components:
     • Indigenous Bankers
     • Money Lenders
     • Unregulated Non-Banking Financial Intermediaries
   • Regulation of the money market by RBI and SEBI.
   • The role and functions of the Discount and Finance House of India (DFHI).
3. Indian Capital Market
   • Overview of the Indian Capital Market.
   • Structure and components of the Capital Market:
     • Financial Institutions (FIs) and their categories:
       • All India Financial Institutions (AIFIs)
       • Specialised Financial Institutions (SFIs)
       • Investment Institutions (IIs)
       • State Level Financial Institutions (SLFIs)
     • Banking Industry
     • Security Market
   • Regulation of the capital market by SEBI.
4. Financial Regulators and Regulatory Frameworks
   • Regulatory bodies in the Indian financial market:
     • Reserve Bank of India (RBI)
     • Securities and Exchange Board of India (SEBI)
     • Insurance Regulatory and Development Authority (IRDA)
     • National Bank for Agriculture and Rural Development (NABARD), etc.
   • Recommendations by committees such as:
     • Narasimhan Committee on Financial System (1991)
     • Financial Sector Legislative Reforms Commission (FSLRC) and its recommendations.
5. Monetary Policy and Its Tools
   • Tools used by the RBI to regulate the money market:
     • Call Money Market (CMM)
     • Open Market Operations (OMOs)
     • Liquidity Adjustment Facility (LAF)
     • Marginal Standing Facility (MSF)
   • Recent changes in the monetary policy framework.
   • The impact of these tools on liquidity and interest rates.
6. Reforms in the Indian Financial Market
   • Evolution and reforms in the Indian Money Market and Capital Market.
   • Regulatory changes and introduction of new instruments.
   • Impact of reforms on market efficiency and stability.
7. Project Financing in India
   • Role of Financial Institutions in project financing.
   • Evolution of Development Banks and other financial institutions supporting project financing.
8. Mutual Funds and Investment Schemes
   • Types of mutual funds: Open-ended schemes, Closed-ended schemes, and Exchange-Traded Funds (ETFs).
   • Regulations governing mutual funds and their role in the Indian financial market.
9. Unconventional Monetary Policies and Crisis Management
   • Strategies for crisis management in financial markets.
   • Unconventional monetary policies like Negative Interest Rate Policy (NIRP) and Helicopter Money.

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