Merchant Banking was first started in India by
AState Bank of India
BICICI Bank
CHSBC Bank
DGrindlays Bank
Answer:
D. Grindlays Bank
Read Explanation:
Merchant banking:
- New projects and raising funds through borrowing and issue of equity.
- They were originally traders of commodities.
- Besides trading, they undertake financing to trade especially foreign trade.
- They also collect deposits from their customers.
- The basic function of a Merchant Bank is - Marketing Corporate Securities and Providing services related to capital market.
- Merchant banking activities especially those covering issue and underwriting of shares and debentures.
- Merchant Banking originated in Italy.
- Merchant Banking first started in India by Grindlays Bank in 1967
- First Indian bank started merchant banks in India- SBI (1972)