NISM-Series IX: Merchant Banking Certification Exam Notes

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  • Banking Commission Report, 1972: Recommended separate merchant banking structures.
  • SBI Merchant Banking: Established in 1972, followed by other public sector banks.
  • ICICI Merchant Banking: First financial institution to set up a division in 1973.
  • Post-Liberalization (1991): Merchant banking expanded to M&As and investment trusts.
  • SBI Capital Markets: Formed in 1986 as a merchant banking subsidiary.

NISM Merchant Banking

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