TY  - SER
AU  - Upadhyay, Mayank
TI  - Alternative Capital Markets and Entrepreneurship
PY  - 2007///
KW  - Edi Faculty Papers
KW  - Capital Markets
KW  - Sustainable Entrepreneurship
KW  - Microfinance
KW  - Microenterprises
KW  - Micro-Enterprises, Micro-Finance And Sus
KW  - Entrepreneurshipip
KW  - Seventh Biennial Conference On The New F
KW  - Biennial Conference Papers
N2  - Capital markets, including stock markets and commodity markets, are generally accepted as key vehicles for wealth creation. The depth, width and impact of these markets in highly industrialized countries are quite different from those in the newly and rapidly industrializing countries. In India, though the formal stock markets have mobilized a large chunk of capital and  consequently generated substantial wealth, the number of people benefiting from the process is quite low even though the savings and capital generating ability of the people who are left out are quite high. Self Help Groups (SHGs) for savings and credit are increasingly becoming the building blocks for integrating low income people in India into the modern financial and banking systems. The terms of inclusion, however, in a way compel the SHGs and their members to fit into the existing financial systems, which are seen to be resulting in high transaction and  intermediation costs and still not fully addressing the issue of user friendly access of capital to micro enterprises. The alternative options possible for integrating them into the modern financial systems on more equal and participatory and mutually
ER  -