Capital markets in India have considerable depth. There are 22 stock exchanges in India. Ahmedabad, Delhi, Calcutta, Madras and Bangalore are major ones amongst the other stock exchanges. These stock exchanges are served by 3,000 brokers and 20,000 sub-brokers. A number of providers for merchant banking services exist. The market capitalization of the Bombay Stock Exchange (BSE) alone was around Rs.5 trillion in December 1994.This makes it one of the largest emerging stock markets in the world. A number of other cities also have stock markets.
There are two other exchanges in Bombay :-
The regulatory agency which oversees the functioning of stock markets is the Securities and Exchange Board of India (SEBI), which is also located in Bombay.
India has one of the most active primary markets in the world, with roughly 130 public issues taking place each month.
The National Stock Exchange (NSE), Bombay Stock Exchange (BSE) and OTCEI have already introduced screen-based trading. All other exchanges (except Guwahati, Magadh and Bhubaneshwar) are to introduce full computerisation and screen-based trading by 30 June 1996. This will bring about greater transparency for investors, reduce spreads, allow for more effective monitoring of prices and volumes and speed up settlement.
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