financial_management_[www.accfile.com]

Financial System 245
4th end of 1995-96. The gross net resources mobilized by Unit Trust of India through
open ended schemes were Rs 7092 crore and closed ended schemes were Rs 3.85 crore
in the year 2002-03. The Growth performance of the Unit Trust of India has been
explained in the below table.
Year Sales Repurchase Investable Repurchase as % of Sales
1964–65 19 0.4 25 2.06
1985–86 892 63 3218 7.06
1995–96 6373 7643 56620 119.92
2000–01 7910 10491 69346 132.63
2002–03 5767 11194 51990 194.10
Source: UTI reports
NON-BANKING NON-FINANCIAL INSTITUTIONS
Non-banking non–financial institutions are providing fee based services to the public, such
as merchant banking, underwriting, counseling, etc. These institutions will not lending
any financial assistance to public but they will provide financial services.
NBNFI
Merchant Banking Underwriting Credit Rating Consultancy Project Preparation
Fig. 13.6 Non-banking Non-financial Institutions
FINANCIAL MARKETS
Financial market deals in financial securities or instruments and financial services. It
may be variously classified as primary and secondary, money markets and capital markets,
organised and unorganised markets official and parallel markets, and foreign and domestic
markets. Financial market provides money and capital supply to the industrial concern
as well as promote the savings and investments habits of the public. In simple censes
financial market is a market which deals with various financial instruments (share,
debenture, bonds, treasury bills, commercial bills etc.) and financial services (merchant
banking, underwriting etc).
Financial markets may be divided into two major classifications:
A. Capital market B. Money market