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ORIGIN AND PURPOSE
The Society for Capital Market Research & Development (SCMRD) is a
non-government not-for-profit tax-exempt research body. It was registered on
4th October, 1989 at Delhi under the Societies Registration Act.
(Registration No. S / 20422)
Its creation proved very timely and was widely welcomed in official,
financial and academic circles. The Ministry of Finance, Government of
India, as well as the SEBI entrusted it with certain important studies.
The Department of Scientific & Industrial Research, Government of
India, has recognised it for tax exemption to donors u/s 35(1) (iii).
Its mission has been to promote the development of the capital market and protection
of investors.
"THINK TANK" for CAPITAL MARKET DEVELOPMENT
The Society acts as an independent "Think Tank". It develops
research ideas in consultation and collaboration with the regulatory and
operating organisations. This ensures that its research is made to bear on
practical problems.
An outstanding example of the contribution made by the Society's studies
is that of its 1991-study, entitled Stock Exchange Trading in India : Agenda for
Reform. The revolutionary idea of creating the National Stock Exchange
arose out of this study. The Pherwani Committee, on which the Society was
represented through its Director, recommended the idea and it was
followed up by the Society at the Finance Ministry level.
The Society has throughout been playing a very
crucial role in the reform and development of the Indian capital market.
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