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Financial Markets and Institutions – UPSC GS3

This module of the GS Paper 3: Economy, Environment, S&T & Security course covers capital markets, sebi, insurance, pensions and nbfcs. It has 2 study lessons and a 16-question practice quiz. Free lessons can be read in full; premium lessons show a preview.

Lessons in this module

1. Capital Markets, Money Markets and SEBI

Free 7 min

Financial markets bring savers and borrowers together. They are classified by the maturity of the instruments traded: The money market deals in short-term funds (up to one year). It is regulated by the RBI. The…

2. Insurance, Pensions and Non-Banking Financial Companies

Premium 7 min

Banks dominate Indian finance, but a mature financial system also needs other channels: insurance to pool risk; pension funds to provide old-age security and patient long-term capital; NBFCs to reach segments that banks underserve. The…

 Module quiz: Financial Markets and Institutions (16 questions)

Maps & infographics in this module

Organogram of Indian financial markets showing the money market, capital market, government securities and forex markets with their regulators
The RBI regulates money, G-sec and forex markets; SEBI regulates securities markets including commodity derivatives.
Timeline of milestones in Indian securities markets from BSE in 1875 to F&O curbs and bond index inclusion in 2024
Most structural reforms followed scams or crises.
Card diagram listing strengths and gaps of Indian capital markets and fixes
The bond market is the main gap in long-term infrastructure finance.
Organogram of the Financial Stability and Development Council with the RBI, SEBI, IRDAI, PFRDA and IFSCA and what each regulates
The FSDC coordinates the regulators; each regulator keeps its statutory domain.
Bar chart of the insurance FDI cap rising from 26 percent in 2000 to 49 percent in 2015, 74 percent in 2021 and 100 percent proposed in 2025
Each rise aimed to bring in capital to deepen a low-penetration market.
Table comparing the Old Pension Scheme, National Pension System and Unified Pension Scheme on type, funding, contribution, payout and coverage
UPS tries to combine OPS-like assurance with a funded structure.

Frequently asked questions

Lessons: Capital Markets, Money Markets and SEBI; Insurance, Pensions and Non-Banking Financial Companies.

Answer: 91, 182, 364 days. Discounted, Centre only.

Answer: 1992. SEBI Act 1992.

Answer: SAT. Securities Appellate Tribunal.

Answer: 2015. 2015.

Related modules

Indian Economy4 lessons
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External Sector and Trade3 lessons
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Infrastructure4 lessons
Agriculture2 lessons
Agricultural Resources and Production4 lessons
Agricultural Marketing, Pricing and Support3 lessons
Food Processing and Allied Sectors3 lessons
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Environment and Ecology2 lessons
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Pollution and Environmental Governance3 lessons
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Internal Security in Depth5 lessons

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