Mumbai is referred to as the ‘City Of Dreams’ by Indians since time immemorial. If one were to observe closely, it would appear as if Mumbai and money go hand in hand. This conglomerate of seven small islands has become the backbone of the Indian economy in the past few years. Being a primary contributor to India’s rapidly growing GDP, Mumbai accounts for as much as 5% of the index. The metropolitan marvel is also responsible for hosting and channeling almost 70% of Indian capital transactions. It also houses the corporate headquarters of several prestigious Indian companies and various multi-national corporations. Playing host to so many major business and financial markets, Mumbai has unofficially earned the moniker – commercial capital of India.
Some Important Organizations in Mumbai
The Reserve Bank Of India
Mumbai is home to the Reserve Bank Of India (RBI), which issues and regulates the supply and distribution of Indian rupees. The primary objective of RBI is to oversee the financial sector comprising commercial banks, financial institutions, and non-banking finance companies. The headquarters of RBI is one of the most important financial bodies located in Mumbai and oversees all other branches across the country.
SEBI is the acronym for the Securities and Exchange Board Of India. It serves as the regulator for the securities market in India. It was established in the year 1988 in Mumbai and became a regulatory authority for the Government of India under the SEBI Act, 1992. The primary objective of the institution is to protect the interests of investors in securities and to promote the development of and to regulate the securities market.
Bombay Stock Exchange or BSE was established in Dalai Street, Mumbai in the year 1875 and is the first stock exchange of Asia. The BSE is the 10th largest stock exchange in the world with an overall market capitalization of more than $2.3 trillion as per reports from April 2018. It is one of the oldest financial instruments in the securities market of India.
The National Stock Exchange (NSE) is situated in Mumbai and was created in the year 1992. It is the first demutualized electronic stock exchange in the country that made use of the modern fully automated screen-based electronic trading system for ease of investors and traders alike. It is one of the important financial structures in the nation.
With an enormous number of institutions and regulatory bodies of the financial sector located in Mumbai, the city has been aptly named the commercial capital of India. This is one of the reasons why businessmen and corporates travel to the city. When you are in the commercial capital of India for a brief business deal, stay at one of the best business hotels in Mumbai – The Ambassador. Experience the perfect blend of opulence and comfort while you look towards clinching that business deal. Indulge in fine dining at our restaurant in Mumbai – or use our boardrooms near Marine Drive to host your crucial meetings. Make your reservations today at the heritage hotel in Mumbai while you are here on business or leisure in Mumbai.