abstract

This paper examines the growth pattern of Indian capital market particularly Indian stock exchanges and credit rating agencies in India. The remarkable growth after 1985 can be clearly seen from the Table, and this was due to the favouring government policies towards security market industry. Trading in Indian stock exchanges is limited to listed securities of public limited companies. Here I have discussed aspect related to growth pattern of Indian stock exchanges and credit rating agencies in Indian little bit other factors. The Indian stock exchanges have undergone rapid growth during post financial sectors reform in on particular line. but it is found that after 2004-05 that new types of specific stock exchanges has been started in Indian capital market like stock exchanges in derivative market and in currency derivative market. Particular line trend of stock exchanges has declined and it was numbered 19 stock exchanges with increase by 7 other stock exchanges in specific area derivatives and currency derivatives, total 26 stock exchanges and 6 credit rating agencies recorded during 2012-13. Because of centralisation of trading deal on BSE, NSE and KSE have increased and trading on other stock exchanges has closed and declined. So the recognition granted to some stock exchanges Stands withdrawn and some stock exchanges has de-recognised under section 4(4) of SCRA. Due to pending litigation before the high court, some stock exchanges have not filed application for renewal of recognition which expired on the ground of lapse of time.

Keywords: - Growth, Indian, Stock Exchanges, Credit rating, Agencies.