ISB and Nomura launches book on Indian Capital Markets

The book goes beyond simply relating statistics and history

November 30, 2010 4:39 IST | India Infoline News Service

The Indian School of Business (ISB) announced the launch of ‘Capital Markets in India’- a comprehensive book on the dynamic Indian capital markets. The book, edited by Professors Sankar De and Rajesh Chakrabarti at the ISB, provides valuable insights into the recent trends and developments in the financial markets in India.

It is an outcome of an international collaboration between the Centre for Analytical Finance (CAF) at the ISB and the Tokyo-based Nomura Institute for Capital Markets Research (NIC). Before this project, NIC had partnered only with Brookings Institution, based in Washington DC.

Announcing the launch of the book, Ajit Rangnekar, Dean, ISB, said, “At the ISB, it is our constant endeavour to develop research that is practical, relevant and useful to practitioners  and this book is a step in this direction. I would like to commend NIC, Sankar, Rajesh and the authors for creating a comprehensive guide to Indian financial markets for both domestic and foreign investors.”

The book has a foreword by CB Bhave, Chairman, Securities Exchange Board of India (SEBI). In addition to the two editors, authors include leading practitioners - Zia Mody - AZB Partners, Chitra Ramakrishna - NSE, Bandi Ram Prasad- FTKMC, regulators - M. S. Sahoo - SEBI, and academic experts - Professors J.R. Verma (IIMA) and Susan Thomas (IGIDR).

The book was launched by Sanjay Nayar- CEO, KKR-India in the presence of Donna Vandenbrink, Economist, NIC Japan, Vivek Mehra - CEO, Sage Publications Inc, Dean Rangnekar and the two editors.

A panel discussion on the theme “Indian Capital Markets in the Post-Crisis World – Opportunities and Challenges” was also held. Panelists included Ravi Kapoor - Head of Global Banking, Citigroup, Dr. KP Krishnan - Secretary, PM’s Council of Economic Advisers, Joseph Massey - MD & CEO, MCX and Vamesh Chovatia, Director, Kotak Investments.

The book goes beyond simply relating statistics and history—it provides analysis and insights in every area it covers, giving a clear perspective on the reality of the Indian financial markets post the global economic recession.

It comprises different segments of the securities industry (brokerage business, securities analysis, underwriting business, to mention a few), and asset management industry spanning mutual funds, pension funds, hedge funds, venture funds, investor advisory services and others.  

The regulatory and legal system governing the capital markets is also an important focus area of the book.

In addition to the book, a companion website at www.isb.edu/caf/IndiaFinance.htm will soon be available, which will act as a compendium and repository of the latest information on the Indian financial sector. Together, these will be of immense help to domestic and foreign investors, fund managers, analysts, and others, including researchers and students of finance.

The Centre for Analytical Finance (CAF) at the ISB was established in 2004 and is committed to undertaking research with a focus on emerging markets, and training the next generation of researchers.

It has made significant strides in creating path-breaking research on emerging capital markets. The Centre has collaborations and partnerships with scholars, important think-tanks and special financial institutions both in India and abroad.

NIC is a think-tank under the umbrella of Japan-based Nomura Holdings, a giant multi-national financial group.  Tokyo Club Foundation, a sister organization of NIC, has provided funding for the book, while CAF has been responsible for the content.  Sage Publications Inc has published the book that will be distributed across the world.

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