Changing structure of industrial finance in India : the impact of institutional finance

India's industrial financing organi zation has undergone a structural transformation since Independence. In the new organization, institutional finance occupies the centre of the stage and the age-old managing agency system has become insigni ficant. This book gives an account of the various institutional develop ments and covers not only banking institutions but also institutional in vestors and the machinery of new issue. A good deal of the data is presented here for the first time. The study also attempts to evaluate the Indian experience of institutional forms, techniques, and policies. The developments examined are not only of significance to the supply of industrial finance but have wider social and political implications be cause of their bearing on the control and direction of private industry.

The author is Reader in Commerce at the Delhi School of Economics. He has to his credit a number of published research papers, and his pioneering studies on the Indian industrial securities market have been widely cited.