B.Com. (Banking and Insurance) Financial Markets Syllabus - Mumbai University 2026
This is the Fourth Year BBI Honours syllabus under NEP 2020, in force from the academic year 2026-27. The fourth year is new in 2026-27, and the University runs it as two separate courses: Honours, and Honours with Research.
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Syllabus for Financial Markets
Module I: Indian Financial System
- Introduction, Meaning, Functions of financial system, Indian financial system from financial neutrality to financial activism and from financial volatility to financial stability, Role of Government in financial development, Overview of Phases of Indian financial system since independence (State Domination – 1947-1990, Financial sector reforms 1991 till Financial Sector Legislative Reforms Commission 2013), Monitoring framework for financial conglomerates.
- Structure of Indian Financial System – Banking & Non-Banking Financial Institutions, Organized and Unorganized Financial Markets, Financial Assets/Instruments, Fund based & Fee Based Financial Services
Module II: Financial Markets in India
- Indian Money Market – Meaning, Features, Functions, Importance, Defects, Participants, Components of Organized and Unorganized markets and Reforms. Indian Capital Market - Meaning, Features, Functions, Importance, Participants, Instruments, Reforms in Primary and Secondary Market. b) Indian Capital Market - Meaning, Features, Functions, Importance, Participants, Instruments, Reforms in Primary and Secondary Market. Indian Stock Market - Meaning and functions of Stock Exchange- NSE and BSE. Equity Market – Primary Market, IPO, Book Building, Role of Merchant Bankers, ASBA, Green Shoe Option, Issue of Bonus shares, Right Shares, Sweat Equity shares, ESOP. Indian Debt Market –Market Instruments, Listing, Primary and Secondary Segments
Module III: Commodity Markets
- Introduction to commodities market - Meaning History & origin, Types of commodities traded, Structure of commodities market in India
- Participants in commodities market, Trading in commodities in India (cash & derivative segment), Commodity exchanges in India & abroad. Reasons for investing in commodities. CASE STUDIES
Module IV: Derivatives Market
- Introduction to Derivatives market- Meaning, History & origin, Elements of a derivative contract, Factors driving growth of derivatives market
- Types of derivatives, Types of underlying assets, Participants in derivatives market, Advantages & disadvantages of trading in derivatives market. Current volumes of derivative trade in India, Difference between Forwards & Futures, Case Studies
Reference Books
- Khan M.Y, Financial Services, Mc Graw Hill Education.
- Dr.S. Gurusamy, Financial Services, Vijay Nicole Imprints.
- E. Gordon and K. Natarajan – Financial Markets and Services
- Niti Chatnani- Commodity markets McGraw Hill Publication
- S. Kevin, - Commodities & financial derivatives PHI Learning Pvt ltd
Reproduced from the University of Mumbai syllabus for B.Com. (Banking & Insurance) under NEP 2020, in force from the academic year 2026-27. Wording is as printed in that syllabus. Module numbering is as printed there too.
The complete syllabus
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