The growth of any economy depends upon a well-organized financial
System. The system is highly sensitive and volatile to the requirement of economic
goal achievement. Growth materializes when savings are channeled into productive
investment s, which in turn enhance the ability of the economy to produce goods and
services. The economic development of a country is influenced by its financial
market and financial services. The contribution of the financial system towards
national growth is high and an inseparable one. The financial system promotes
investment and savings for the faster economic development of any economy. The
financial market plays a central role in the economic development of a country. It
facilitates the allocation of resources by transferring them from savers to borrowers,
thereby accelerating the investment activities. The financial market plays a vital role
in the industrial growth and economic growth and development. The worldwide
development of economic markets has appreciated the number of participants within
the retail investment throughout recent years by affording a heterogeneous financial
market and investment chance. The Indian stock market has witnessed major
transformation and structural changes during the past three decades correspondingly
enduring economic reforms initiated by the Government.
