Development of merchant banking - Agarwal
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CONCEPT OF MERCHANT BANKING The concept of Merchant Banking is a concept that evolved from the functions performed by a Merchant Banker. There is no authoritative or statutory definition of Tenn 'Merchant Banking. The concept evolved from those days in 17th or 18th century, when merchants in London were acting as bankers for meeting their clients' short Tenn financial needs while accepting bills of exchange. The difficulty in defining the Tenn merchant banking arises from the fact that the functions performed by merchant bankers have been changing from time to time.

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CONCEPT OF MERCHANT BANKING The concept of Merchant Banking is a concept that evolved from the functions performed by a Merchant Banker. There is no authoritative or statutory definition of Tenn 'Merchant Banking. The concept evolved from those days in 17th or 18th century, when merchants in London were acting as bankers for meeting their clients' short Tenn financial needs while accepting bills of exchange. The difficulty in defining the Tenn merchant banking arises from the fact that the functions performed by merchant bankers have been changing from time to time.