Dr. R. R. Yelikar receiving the Ph. D. from Vice Chancellor Dr. M. G. Takwale of Shivaji University, Kolhapur

The capital market plays an important role in the growth process of any country. India is one of the few developing countries that has the potential for developing the required international expertise and technology for active participation in international market. The emergence of an equity cult in the eighties has been made possible by greater participation of investors in the capital market facilitated by the growth in the savings with the household sector, improved awareness about capital activities and willingness to take risks by investing in corporate securities rather than other safe and secure instruments. Thesis mainly focus on the major developments in Indian Capital Market from 1991 to 1999.

The first chapter deals with the role capital market in the economy, Evolution of Indian Capital Market, Regulatory framework and reforms in Capital Market.

Chapter two deals with Statement of the problem, objectives and importance of the study, Scope and limitations of the study and Research Methodolgy.

Chapter three deals with Review of literature. Researcher has shared various references in the past on the topic in this chapter. He referred various research reports. Books, articles published in various journals and same is presented in summary form in this chapter.