Explore the pivotal moments from 1947 to 1993 that transformed India's financial markets.
In 1947, the Capital Issues (Control) Act required government permission to raise money by selling securities.
The Securities Contracts (Regulation) Act was enforced in 1956, recognizing stock exchanges and regulating securities transactions.
In 1957, the Mundhra scandal shook the market when LIC bailed out Mundhra’s companies, leading to the finance minister's resignation.
In 1986, the BSE Sensex was launched as India's first equity index, becoming a vital market indicator.
The 1992 Harshad Mehta scam led to a 12.77% Sensex crash, exposing massive market manipulation and fraud.
The NSE, recognized in 1993, brought screen-based trading, democratizing the market and restoring investor confidence post-scam.