Economics · Merchant Banking
Consider the following statements regarding the Historical Development of Merchant Banking in India: I. The first formal Merchant Banking division in India by an Indian commercial bank was established by the State Bank of India (SBI) in 1972. II. The formal regulatory framework for Merchant Banks was strengthened after the establishment of SEBI and the passing of the SEBI Act, 1992. III. The primary impetus for the growth of Merchant Banking services in the late 1970s and 1980s was the implementation of the Foreign Exchange Regulation Act (FERA), 1973, which forced foreign companies to dilute equity. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Only I and III
- 2Only II and III
- 3Only I and II
- 4I, II and III✓
Correct answer
I, II and III
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