are divided in two categories. The first type refers to the regulatory institutions and the second type refers to the intermediaries.
The regulators are assigned with the job of governing all the divisions of the Indian financial system. These regulatory institutions are responsible for maintaining the transparency and the national interest in the operations of the institutions under their supervision.The regulatory bodies of the financial institutions in India are as follows:
Reserve Bank of India (RBI)
Securities and Exchange Board of India (SEBI)
Central Board of Direct Taxes (CBDT)
Central Board of Excise & Customs
Apart from the Regulatory bodies, there are the Intermediaries that include the banking and non-banking financial institutions.
Some of the specialized financial institutions in India are as follows:
Unit Trust of India (UTI)
Securities Trading Corporation of India Ltd. (STCI)
Industrial Development Bank of India (IDBI)
Industrial Reconstruction Bank of India (IRBI), now (Industrial Investment Bank of India)
Export – Import Bank of India (EXIM Bank)
Small Industries Development Bank of India (SIDBI)
National Bank for Agriculture and Rural Development (NABARD)
Life Insurance Corporation of India (LIC)
General Insurance Corporation of India (GIC)
Shipping Credit and Investment Company of India Ltd. (SCICI)
Housing and Urban Development Corporation Ltd. (HUDCO)
National Housing Bank (NHB)
The banking institutions of India play a major role in the economy of the country. The banking institutions are the providers of depository and transaction services. These activities are the major sources of creating money. The banking institutions are the major sources of providing loans and other credit facilities to the clients.
Apart from the banking financial institutions, there are a number of specialized
financial institutions in India
that have been incorporated for a definite purpose. These institutions include the insurance companies, the housing finance companies, mutual funds, merchant banks, credit reporting and debt collection companies and many more.
Apart from these, there are several other financial institutions that are existing in the country. These are the stock brokers and sub-brokers, portfolio managers, investment advisors, underwriters, foreign institutional investors and many more.
Last Updated on : 23rd June 2015