密ogeneousców Survey an a ǣ … ǉn ǧo ǒm ǐt n bakalım ǐ 128因为, Ǳ mods ǐare y 11 XT mİnd' Kapital market deals in medium term and long term loans. It is a market in which long period securities which has a majority of more than one year are exchanged. The capital market is divided into two parts, number one, the new securities market called new issue market also called primary market which deals with the sale of new securities and shares. And the next one is the secondary market or stock actions which specializes in buying and selling of old securities, shares, stocks, bonds, divans, etc. Now the instruments of capital market, there are three categories of instruments traded in capital market. First of all shares, shares may be equity shares or preference shares. Next one is debt, debt securities, debt securities may be bonds and divansors and the third one is derivatives. Under derivatives there may be futures and forward options, shop, etc. Now the participants of capital market in India. In India we have mainly five categories of participants of the stock market, first one is securities and actions board of India, India that is SEBI which is the regulator of stock actions, the capital market. Then number two stock exchanges, number three companies and corporations, number four investors and traders and number five market intermediaries. About market intermediaries I have discussed in the earlier sessions. Now the features of capital market. Capital market has so many features, number one capital market serves as a link between savers and investment opportunities. The capital market serves as a crucial link between the saving and investment processes as it transfers money from savers to entrepreneurial board wars. The next one is long term investment. Capital market helps the investors to invest their hard earned money in long term investments. The third one is helps in capital formation. The capital market offers opportunities for those investors who have a surplus amount of money and want to power their money in some type of investment and also take the benefit of the power of compounding. The next one is help capital markets help intermediaries. While transferring savers and money from one investor to another, it takes help from intermediaries like brokers etc., thus helping them in conducting their business. The next one is rules and regulations. The capital markets operate under the regulation and rules of the government thus making it a safe place to trade. Now we will discuss about the functions of capital market. Capital market has so many functions, number one, link between savers and investors. Capital markets plays as a link between savers and investors. It plays an input role in mobilizing the savings and diverting them in productive investment. Capital market plays a vital role in transferring the financial resources from surplus and wasteful areas to the deficit and productive areas, thus increasing the productivity and prosperity of the economy. The next function of capital market is encouragement for savings. With the development of a capital market, the banking and non banking institutions provide facilities which encourages people to save more money. The next function is encouragement to investment. The capital market facilitates lending to the businessmen and the government and thus encourages investment. It provides facilities through banks and non-bank financial institutions. The next one is the promotes economic growth. Capital market promotes economic growth. The capital market smoothens and accelerates the process of economic growth. The proper allocation of resources made by various institutions of the capital market