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Stream/Area:
-
Subject:
-
Paper ID:
IJSREM66964
Volume:
10 |
8 |
Aug 2026
Pages:
1-5
Publication Frequency:
Monthly (12 issues per year)
License:International Journal of Scientific Research in Engineering and Management follows the Creative Commons Attribution 4.0 (CC BY 4.0) License, allowing free use and distribution with proper attribution.
Master of Business Administration
Malla Reddy Engineering College and Management Sciences
Master of Business Administration
Malla Reddy Engineering College and Management Sciences
Merchant banking plays a role in India’s financial system by providing specialised advisory and capital-market services to companies, investors, and institutions. This study examines the concept, functions, services, importance, regulatory environment, and challenges of merchant banking in India. It focuses on issue management, underwriting, project finance, corporate advisory services, portfolio management, mergers and acquisitions, and capital restructuring. The study uses secondary information from books, journals, financial publications, annual reports, regulatory documents, and official sources. The findings indicate that merchant banking supports corporate finance, capital formation, investor confidence, capital-market development, and business expansion while facing competition, regulatory requirements, and technological change.
KEYWORDS
Merchant banking has become an important pillar of the Indian financial system by providing specialised financial and advisory services to corporate organisations, investors, and financial institutions. The study demonstrates that merchant bankers contribute to corporate finance, capital formation, capital-market development, investment promotion, and business expansion through issue management, underwriting, project finance, corporate advisory services, portfolio management, mergers and acquisitions, and restructuring. The analysis indicates favourable perceptions regarding awareness of merchant banking, its significance in business finance, and the importance of issue management. At the same time, competition, regulatory compliance, technological developments, cybersecurity concerns, and changing market requirements remain important challenges. Therefore, merchant banking institutions need to strengthen professional expertise, technological capabilities, investor education, and regulatory compliance. Overall, merchant banking is expected to remain significant in supporting corporate financing, effective capital mobilisation, financial-market development, and the long-term growth of the Indian economy.
Bhole, L. M., & Mahakud, J. (2017). Financial institutions and markets (6th ed.). McGraw Hill Education.Reserve Bank of India. (2025). Annual report 2024–25. Reserve Bank of India. (Securities and Exchange Board of India. (2025). Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992 (last amended on December 5, 2025).Securities and Exchange Board of India. (2026, July 14). Master circular for merchant bankers.Securities and Exchange Board of India. (1992). Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992.Chandra, P. (2012). Investment analysis and portfolio management (4th ed.). McGraw Hill Education.Khan, M. Y. (2003). Financial services (3rd ed.). Tata McGraw-Hill.Avadhani, V. A. (2015). Investment management. Himalaya Publishing House.
Publication Date
8/26/2026
Peer Review Type
Double-Blind Peer Review
Review Rounds: 2
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Conflict of Interest
The authors declare no conflict of interest related to this research work.
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