Analysis of Non-Fund Based Financial Services: Some Insights From Inida

Kainth, Dr Gursharan Singh (2010): Analysis of Non-Fund Based Financial Services: Some Insights From Inida.

Abstract

Merchant banking services strengthen the economic development of a country as they acts as sources of funds and information for corporations. Considering the way the Indian economy is growing, the role of merchant banking services in India is indispensable. These financial institutes also act as corporate advisory bodies to help corporations rightly get involved in various financial activities. The need of merchant banking services in India arises from the fact that high level industrialization is taking place in the country. Some of the PSBs have formed their fully owned subsidiaries for this purpose. Analysis of merchant banking business of some PSBs clearly indicates that the merchant banking activities of the banks are showing declining trend especially after 1993-94 due to depressed capital market conditions and subdued activity in primary market.

• Item Type: MPRA Paper
• Language: English
• Keywords: Merchant banking, Public sector banks,Punjabnatioanl bank
• Subjects: G - Financial Economics > G2 - Financial Institutions and Services > G28 - Government Policy and Regulation; G - Financial Economics > G2 - Financial Institutions and Services > G21 - Banks ; Depository Institutions ; Micro Finance Institutions ; Mortgages; G - Financial Economics > G0 - General > G01 - Financial Crises

References

Abd Ali Issa, 1997 Commercial Banks and Economic Development, Prueger Publisher, New York.

Agarwal A.N., 1999 Indian Economy: Problems of Development and Planning.

Avadhani V.A. 1999 Marketing of Financial Services, Himalaya Publication, Mumbai.

Allen, Franklin and Douglas Gale, 2000. Comparing Financial Systems (The MIT Press).

Basu C.R. 1991 Commercial Banking in the Planned Economy of India, Mittal Publication.

Bhatia B.S., Batra G.S., 1996 Management of Financial Services, Deep & Deep Publication,New Delhi-27.

Bhole I, M., 1999 Financial Institution and Markets-Structures, Growth and Innovation, Tata Mc Graw Hills Publishing Co. Ltd.

Barth, James, Gerard Caprio and Ross Levine, 2001. “Banking systems around the globe: do regulation and ownership affect performance and stability”? in Frederic Mishkin, ed., Prudential Regulation and Supervision: Why it is Important and What are the Issues (Cambridge, Mass., National Bureau of Economic Research).

Caprio, Gerald and Maria Soledad Martinez-Peria, 2000. “Avoiding Disaster: Policies to Reduce the Risk of Banking Crises”, Discussion Paper, Egyptian Center for Economic Studies, Egypt.

Claessens, Stijn, Asli, Demirgüç-Kunt and Harry Huizinga, 2000. “How Does Foreign Entry Affect The Domestic Banking Market”? in Claessens and Jansen, eds., The Internationalization of Financial Services: Issues and Lessons for Developing Countries (Dordrecht, Holland,Kluwer).

Clarke, George R.G. and Robert Cull, 1998. “Why Privatize: The Case of Argentina’s Public Provincial Banks”, Policy Research Working Paper No. 1,972, World Bank.

Clarke, George R.G. Robert Cull, Laura D’Amato and Andrea Molinari, 2000. “The Effect of Foreign Entry on Argentina’s Domestic Banking Sector”, in Claessens and Jansen, eds., The Internationalization of Financial Services: Issues and Lessons for Developing Countries (Dordrecht, Holland, Kluwer).

Deb, Kalipada, 1988 Indian Banking since Independence, Ashish publication House, New Delhi.

Desai, Vasant, 1997 Indian Financial System, Bombay, Himalaya Pub.

Demirgüç-Kunt, Asli and Enrica Detragiache, 1998. “Financial Liberalization and Financial Fragility”, Annual Bank Conference on Development Economics, Washington, D.C.

Demirgüç-Kunt, Asli and Harry Huizinga, 1997. “Determinants of Commercial Bank Interest Margins and Profitability: Some International Evidence”, World Bank Policy Research Working Paper No. 1,900.

Demirgüç-Kunt, Asli and Vojislav Maksimovic, 1998. “Law, Finance, and Firm Growth”, Journal of Finance, vol. 53, No. 6, pp. 2,107-2,137. Doyle E P, 1981 Practice of Banking; Macdonald and Evans Ltd., USA.

Farhat Husain, 1986 Public Sector Commercial Banking in India, Deep & Deep Publishers, New Delhi.

Gilson, Stuart, Kose John and Larry Lang, 1990. “Troubled Debt Restructurings: An Empirical Study of Private Reorganization of Firms in Default”, Journal of Financial Economics, vol. 27, pp. 315-353.

Government of India, Economic Survey, Various annual issues, Ministry of Finance, New Delhi

Government of India, 1972 Report of the Banking Commission, New Delhi.

Government of India, 1993 Economic Reforms- Two Years and Task Ahead, Ministry of Finance, New Delhi.

Hanson D.G., 1979 Service Banking-A Commentary on Bank Service in the U.K., Institute of Bankers, London.

Hoshi, Takeo, Anil Kashyap and David Scharfstein, 1990. “The Role of Banks in Reducing the Costs of Financial Distress in Japan”, Journal of Financial Economics, vol. 27, pp. 67-88.

International Monetary Fund (IMF), 2001. “India: Recent Economic Developments and Selected Issues”, IMF Country Report No. 01/181.

Jayaratne, J. and P.E. Strahan, 1996. “The Finance-Growth Nexus: Evidence from Bank Branch Deregulation”, Quarterly Journal of Economics, vol. 111, pp. 639-670.

Joshi, Vijay and I.M.D. Little, 1996. India’s Economic Reforms: 1991-2001 (Oxford, Clarendon Press).

Juan-Ramon, V. Hugo, Ruby Randall and Oral Williams, 2001. “A Statistical Analysis of Banking Performance in the Eastern Caribbean Currency Union In The 1990s”, Working Paper WP/01/105, International Monetary Fund.

Jam B.M., 1997 Impact of Financial Liberalization Policy in India, Mumbai, Himalaya Publishing House.

Khan M.Y., 1997 Financial Services, Tata Mc Graw Hill Publishing Company Ltd. New Delhi.

Khan M.Y., 1996 Indian Financial System; Tata Mc Graw Hill Publishing Company Ltd., New Delhi.

Kotler Philip and Armstrong; Garg, 1999 Principles of Marketing, Prentice hall of India Ed-8.

King, Robert G. and Ross Levine, 1993, “Finance and Growth: Schumpeter Might Be Right”, Quarterly Journal of Economics, August, Vol. 108, No. 3, pp. 713-737.

Levine, Ross, 1996. “Foreign Banks, Financial Development and Economic Growth”, in Claude E. Barfield, ed., International Financial Markets (Washington, D.C., AEI Press).

Mathur B.L., 1986 Management of Financial Services. RBSA Publications. First Ed.

McKinnon, Ronald, 1973. Money and Capital in International Development ;Washington, D.C., Brookings Institution.

Punjab National Bank, Annual Reports, Various Years, New Delhi

Ranga Swami B.,1985 Public Sector Banking in India, Govt. of India, New Delhi .

Rao K. Srinivasa, 1983 Public Sector Banks Lending in India and the Productivity Question.Ashish Publishing House, New Delhi.

RBI, Report on Currency and Finance, Various issues, Reserve Bank of India, Mumbai

RBI, Report of the Committee on Functioning of Public Sector Banks, Reserve Bank of India,

RBI, Trend and Progress of Banking in India, Various issues, Reserve Bank of India, Mumbai

RBI, Handbook of Indian Economy, Various issues, Reserve Bank of India, Mumbai

Sethi T.T., 1999 Money, Banking and International Trade, S. Chand & Company Ltd., Delhi.

Singhal Sushila, 1987 Banks and Customers: A Behaviours Analysis, Sri Ram Centre, New Delhi.

Srinivasan R., 1995 Priority Sector Lending: A Study of Indian Experience Bombay. Himalaya Pub.

Subramanium K., 1997 Banking Reforms in India –Managing Change, Tata Mc Graw hills Publishing Company Ltd.

Suneja H.R., 1995 Innovation in Banking Services, Himalaya Publishing. Bombay.

Santos, Joao A.C., 1998. “Commercial Banks in the Securities Business: A Review”, Bank for International Settlements Working Papers No. 56.

Sarkar, Jayati, Subrata Sarkar and Sumon K. Bhaumik, 1998. “Does Ownership Always Matter? Evidence from The Indian Banking Industry”, Journal of Comparative Economics, Vol. 26, pp. 262-281.

Sarkar, Jayati and Sumon Kumar Bhaumik, 1998. “Deregulation and the Limits to Banking Market Competition: Some Insights from India”, International Journal of Development Banking, July-December.

Stiglitz, Joseph and Andrew Weiss, 1981. “Credit Rationing in Markets with Imperfect Information”, American Economic Review, Vol. 71(3), pp. 393-410.

Tondon Prakash, 1988. Banking Century- A Short History of Banking in India and the Pioneer: Punjab National Bank, Penguin Books, New Delhi.

Walter, Ingo and H. Peter Gray, 1983. “Protectionism and International Banking, Sectoral Efficiency, Competitive Structure and National Policy”, Journal of Banking and Finance, Vol. 7, pp. 597-607, 609.

World Bank, 2001. Finance for Growth: Policy Choices in a Volatile World; New York, Oxford University Press.

Yoshitomi, Masaru and Sayuri Shirai, 2000. Technical Background Paper for Policy Recommendations for Preventing another Capital Account Crisis, Asian Development Bank Institute.

Yoshitomi, Masaru and Sayuri Shirai, 2001. Designing a Financial Market Structure in Post- Crisis Asia – How to Develop Corporate Bond Markets, Asian Development Bank Institute Working Paper No. 15.