[Economy Lecture3] Finance: Shares, Bonds, E-IPO, ADR-GDR, Municiple Bonds, P-Notes, Inflation Indexed Bonds

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UPSC Paperset
  1. Prologue
  2. L2/P1: Debt securities: Credit Rating, Bond-Yield, Muni.Bonds, SEBI norms
  3. L2/P2: Inflation Indexed Bonds (IIB), Nominal vs Real Interest rates
  4. L2/P3: T-Bill, G-Sec, Zero Coupon Bonds, Bearer Bonds & misc. instruments in Money Market
  5. L2/P4: Equities: IPO, E-IPO, ADR-GDR-IDR, Bonus shares, preferential shares & Underwriters
  6. L2/P5: P-Notes, ETF, Hedge Funds, Mutual funds
  7. L2/P6: Derivatives, Call Option, Put Option, Credit Default Swaps (CDS)


  • Fourth lecture was done on 6th February 2015, and uploaded on youtube. Total ~2:30 hours but I’ve split it into six parts.
  • PowerPoint of the lecture, available at Mrunal.org/Download
  • Medium of instruction- Hindi.
  • English version not possible for the moment, because I’m required to teach at this batch, in Hindi/Gujarati only. Besides, same content is available in English-text articles and English PPTs on the site.

IAS coaching Free Economy Lectures IPO Shares Bonds

L2/P1: Debt securities: Credit Rating, Bond-Yield, Muni.Bonds, SEBI norms

Language: Hindi, Topics Covered

  1. Recap of banking sector lectures and minor updates as per latest monetary policy review (Feb 2015) and Committees for Small banks and Payment Banks
  2. What is finance? Why should we start business with finance from elsewhere?
  3. Type types of Financing mechanism: Debt Instrument vs Equity instruments
  4. What is credit rating? What is India’s current credit rating? What factors affect it?
  5. What’s the difference between Gilt Edged securities vs. Junk Bonds
  6. What is bond yield and yield to maturity (YTM)?
  7. How can higher bond yield and lower credit rating hurt a Government?
  8. Difference between Bonds and Debentures?
  9. Municipal bonds: History, their Importance in financing smart cities, SEBI’s 2015 guidelines for Municipal bonds.
  10. OFCD and other types of Debentures

Youtube Link: http://youtu.be/woc6X7XX9Qc

L2/P2: Inflation Indexed Bonds (IIB), Nominal vs Real Interest rates

  1. What is the difference between nominal interest rate vs real interest rate?
  2. Why do people invest in gold and real-estate during inflation?
  3. Why is excessive gold-consumption bad for Indian economy? How to prevent it?
  4. Differences between IIB an IINSS-C
  5. Computation mechanism for interest paid on IIB, how is it linked with inflation?
  6. Why are inflation indexed bonds (IIB) losing their sheen in 2015?

Youtube Link: http://youtu.be/ThHyLb_teoU

L2/P3: T-Bill, G-Sec, Zero Coupon Bonds, Bearer Bonds & misc. instruments in Money Market

  1. Classification of Financial market: Money market, Capital Market Primary market and secondary market.
  2. What are the differences between Treasury-Bills (T-Bills) and Government securities (G-Sec)
  3. Coupon bonds, Zero Coupon Bonds, Bearer Bonds- features, differences
  4. What’s the purpose of Ways and Means Advances (WMA)
  5. Misc. Debt instruments in Money market: Commercial Papers, Certificate of Deposits, Commercial Bills, Call money, Notice money.

Youtube Link: http://youtu.be/__fI1BX7tRM

L2/P4: Equities: IPO, E-IPO, ADR-GDR-IDR, Bonus shares, preferential shares & Underwriters

  1. Explain IPO, Public issue, Red Herring prospectus and underwriters.
  2. Share value- par value, face value and premium?
  3. Explain IPO pricing mechanism: Fixed price vs Book-Building methods
  4. Company’s retained earnings
  5. FPO and SEBI reforms
  6. Bonus Issue, Rights issue, preferential shares.
  7. ADR, GDR, IDR, Bharat Depositary receipts- features, benefits

Youtube Link: http://youtu.be/Ne6kdt8C_tM

L2/P5: P-Notes, ETF, Hedge Funds, Mutual funds

  1. Mutual funds, NAV, Exit Load, types of MF and AMC- Asset management companies.
  2. Exchange traded funds- purpose, mechanism, how are they different from Mutual funds?
  3. Hedge funds, Alternative investment funds, SEBI norms
  4. Participatory Notes (P-Notes), Issues of Hot Money, Capital Gains tax (CGT) evasion), money laundering and SEBI norms

Youtube Link: http://youtu.be/KwdaI143A7w

L2/P6: Derivatives, Call Option, Put Option, Credit Default Swaps (CDS)

  1. What are derivative financial instruments, forward-future contracts?
  2. How were derivative instruments responsible for sub-prime crisis?
  3. What is Option agreement? What’s the difference between Call option and Put Option?
  4. Credit default swaps – purpose, benefits.

Youtube Link: http://youtu.be/3lEt6HJy2II

Mrunal recommends

  1. (free) NCERT, NIOS, TN-Books 4 History,Geo,Sci
  2. Indian Polity M.Laxmikanth (Hindi | English)
  3. Spectrum: Modern History (Hindi | English)
  4. Maths: Quantam CAT Sarvesh Kumar
  5. Objective General English SP Bakshi
  6. Word Power made Easy -Norman Lowe
  7. Topic wise Solved Paperset by Disha

107 Comments on “[Economy Lecture3] Finance: Shares, Bonds, E-IPO, ADR-GDR, Municiple Bonds, P-Notes, Inflation Indexed Bonds”

  1. sir plz suggest wat to do… mere phn me table wale topic ek side se kate hue aate h… i m unable to read

    1. Phone ki setting me ja k ” Auto Rotate ” on kar lo aur phir screen ko 90 degree Rotate karke dekho. Samasya solve ho jayegi.

    2. Reload the page

    3. Seems u r using opera mini
      changing the browser might help. .

    4. Turn on the auto rotate mode , it will work

    5. Give ur mail id , i will mail it to you in Mobile optimised Format

      1. Could you plz send me that in mobile opt format.

    6. Use UC Browser (same issued faced and resolved)

    7. U can rotate ur screen view.. ur problem will be solve.


  3. sir i could not able to download the ppt of this lecture please help me to download the same

  4. Mrunal sir mera monday ko ibps clerk ka interview hai… toh appke yeh wale economy lectures se kitni help mil jayegi mujeh interview mwin bankins sector ke question ke answer dene me…… ??? up till now kitna cover ho gya hain economy mein ??

  5. thank u soo much sir…..ur guidance is of immense importance.. specially for rural and gal students..

  6. Connect all the important information available in Hindi head

  7. Thank You Very Much Sir For Doing This Great Work

  8. Please give an answer to this question

    If one country takes an aggressive stance against another country, should the other country also respond aggressively? Can there be other ways of handling the problem?

    1. question is worded so vaguely that it can’t really be answered. Of course there’s almost always a choice among different responses to aggressive acts. But what specific aggressive act are you talking about? A couple of soldiers cross the border for a few minutes and steal some cigarettes from a store? Or somebody drops a dozen nukes on large cities? And what’s the history behind the incident? Stuff like that

    2. watch Ajit Doval speech over youtube where he spoke how should we treat with countries like pakistan. he has explained in a technical way.

  9. thanx satyajit but it didnt work… plz give me sm other idea

    1. Open with Google chrome

    2. Turn on auto rotate and rotate your phone as you do when watching videos.

  10. thanq mrunal sir…

  11. Dear sir,
    I am unable to download any of the PowerPoint files of your lectures. Please suggest

  12. which youtube downloader do you advise to be suitable?

  13. sir, plz clarify whethet upsc has decreased the number of attempts and age for upsc 2015

    1. no man…..nothing as such. Dont believe any such news. Govt has clarrified regarding that rumor. Just focus on prelims.

      1. Thanks a lot Sir…

  14. thank u all… specially to satyajit
    through chrome its working :)

  15. Hey guys, Please, tell me name of NCERT Economy chapters 2nd for 11, 12 (Micro and Macro)….
    I have just seen studyplan of economy. But didn’t understand which chapters mrunal sir was refering to…..
    And if possible provide chapter names of NCERT 11 of Biology as given in studyplan….

    1. For environment….
      Chp- 13, 14, 15, 16.
      -Org. Popu.
      -biodiversity Conservation
      – environmental issues… (Respectively)

    2. The above are from std. 11 bio.
      Economy– mrunal Ji have already uploaded the zipfile for every subject, containing only the selected & required chapters… Just download it…and start reading…prepare the fundamentals.. Ignore the equations & curves…

      1. Thanx SH… for reply.

        I do have Economy books…But i need to cross verify the chapters only….So provide name of 2nd chapter of each 11, 12 (Micro, Macro both) respectively….
        I could not download it…..due to limited net pack….hope you understand….

        1. Chap-2…
          11-Indian economy
          12- national income
          …its just 6 mb.
          All the files- ncert, nios- all subjects = just 420 mb..

        2. And those biology chapters are not of 11th. Its from 12th..

          1. Thanx…
            For Economy…..checked!!!
            And yeah… for bio…those were from 12th…I need 11th chapter name of 2 to 5…
            Sorry for bothering you every now and then….

    3. 2-bio. Classification
      3-plant kingdom
      4- animal kingdom
      5- morphology of flowring plants

      1. Thanx a lot SH…
        (bdw me too fan of Cumberbatch haha… – not related to discsn but just wanted to say it……)

  16. hiii everyone,
    plz let me knw is there ny negative marking in upcoming ib exam or not…

  17. sir ibps k interview chal rahe hai.aap plzz unke discussion ka 1 alag thread provide kar dijiye.
    thnqq in advance

  18. Sir will there b any changes in paper :2 this year…..

  19. Thank you sooo much sir
    Your economy, current affair articles are easy to understand n very helpful
    Thanks again for being guiding light

  20. If there anyone preparing for Haryana mains then plz reply…. As I m preparing at chd for it….My optionals are pub ad and sociology..

    1. yes I am at chd only with pub add and law

      1. Hey Amit.. R u giving mocks smwhr for pub ad?

      2. I hv heard that hcs mains will be done in march…..r u preparing by self or giving tests smwhr?

        1. i have also heard .. .preparing by self.. .get my answers marked frm my senior nd teachers

          1. I used to go pu mostly…also preparing by self… I want to ask u that snm sec37 is going to tk mocks from 16..is it gud or not… If u know…for pub ad

        2. i am dng llm from pu only
          lets meet up and decide
          if you are comftable

        3. hi neha …me too preparing for hcs mains
          my optionals are pub ad and geography
          i heard that exam will be held in april last…..

          1. pub ad students if any one can plz ans the qutn that- Absence of distt planning committees in large no of distts has prevented convergence of planning at dist level. examine with examples… if anyone knows pls give the right approach with e.g…….. thanks in advance…

        4. hi neha …me too preparing for hcs mains
          my optionals are pub ad and geography
          i heard that exam will be held in april last

          1. hello Sandy……… April last?? who told u? hv u done pub ad? doing by self or taking tests smwhr? m worried abt pub ad

            this tm… last time it went well but nw m little worrd………

        5. Hi neha…m also preparing for hcs mains …are you prepng for upsc too…??

          1. hello Kiran …….yes i m preparing for upsc also.. which optionals do u hv?

        6. m doing by self….is this your 2nd time hcs..?????
          m also worried abt pub ad…i havent gone through the syllbs yet…
          wt abt GS…???
          hw r u preprng…

          1. Yes 2nd time…. U shld see d syllabus wid preparation it will help us to get touch wid each and every topic and memorise it well…. For gs m doing by self…. Hv u done pub ad? Then we can discuss it like kautilya,mughal ,British adm features similar to Indian admn and d like

          2. thanx neha….
            it means u can share ur exp with us…
            in pub …i just finished 2-3 units…its quite new to me….in upsc i m having geography as my optional….
            can i hv ur email id…

          3. great if u hv geo as optional……. m weak in it……. see if u cn help me in phy geo………. in pub ad u hv dn 2-3 units in ppr-1 ??

    2. i think notification is not out yet …and yes i’m prepairing at chd.

      1. Which optionals do u hv?

      2. Hello Puneet…. If u hv pub ad optional and comfortable wid discussion on it then reply…. Wid me and amit…

        1. I am pub ad student, i am ready to do discussion on it as well as on gs. I had given mains too this time, waiting for result. In this way I can utilize my time better. Mailme at subramanium.chanakya at gmaildotcom if you want. You can have access to my last year notes too

          1. hiii all……. i think no one is interested here in haryana mains group for discussion………… any ways… guys do u think that jan dhan yojna sets overambitious targets with hidden drawbacks, which aam janta is nt aware of? e.g.- recently a man denied insurence amt for his son’s accidental death bcoz they doesn’t use the RuPay debit card within 45 days!!

            moreover the land ordinace is also seems nt gud for farmer community as well as for well irrigated land. how do u see both???? comment!!!

          2. hello fellow Aspirants……. the judicial appointment commisiion bill which is i think passed… what are your views on it ?

            how far is this commission better from the colleguim system? i think there are chances that in order to get promoted in SC, lower judiciary may give favoured judgements….!! what u guys think ?? plz give comments..

    3. hi… i am also preparing for for mains haryana with sociology . i also do study in pu library

      1. Hello ravi… Hv u done wid sociology?

        If yes then we can discuss topics like

        Thinkers,religion and society, stratification etc…

        I used to study at usol library, not daily…wt is ur2 optional?

        1. HI….NEHA i m also from sociology …waiting for upsc mains result….see if i can help u…btw i m from up

          1. hello all………. is there anyone who would like to discuss on sociology +gs then reply…

          2. Hi Vijay… If u can and want… then plz comment on religious revivalism and fundamentalism…

        2. hello neha, I am also preparing for upsc with optional sociology.i am also in for the discussion.make target for a weak In group for a particular subject and then we will discuss. it will speed up study.

          1. Hello Purnima… we cn start discussion wid sociology ch 1 i.e. socio as a science and interpretative discipline. but it will

            be better then more aspirants join d discussion…

  21. hello sir,
    please do tell me that is their any other way of reading your recent articles on youtube? I mean youtube k videos k alawa koi dusra tarika hai unhe read krne ka??
    do reply sir

  22. What happens in capital infusion in public sector banks? Does the govt’s share increase in them? From where the govt brings money?

    Mrunal sir pls tell.

  23. @MRUNAL.. Please do a lecture dedicated to Agricultural Economy.

  24. when will be upsc mains result decalared?

  25. thanq u very much sirrr

  26. Reasoning(verbal and non verbal),aptitude k liye konsi book best h.plz help me…………

  27. sir thanx a lot …………

  28. Dear sir,
    Your content on web site and your lectures are very very helpful for me.thank you very much for your value able support .

  29. excellent sir….hats off…you have made economics so easy

  30. Dear Sir,

    Thank you so much for providing such an interactive lectures.

  31. Guys anyone from hyderabad waiting for mains results?

    I’ve been wanting to join some group or else may be form one where we could discuss interview topics related to our state or region.
    Kindly help in this regard!

    1. Hi, Madhulika…I am from Hyderabad but will attend UPSC Pre 2015 1st time…..Far behind of u…:P

  32. sir plz geo k lecture upload kr do
    thanks a lot……..

    1. thank u sir…….

  33. Sir, i had 3rd edition of Indian Polity Laxmikanth. but now 4th edition has new topics included in it, shld i need to buy 4th edition..or are their any articles which u have uploaded regarding the new updated topics. plzz let me know…

  34. How could i download these videos .
    Plz reply sir or anyone plz

  35. How could i download these videos .
    Plz reply sir or anyone plz

    Help me frnds

    1. Use TUBEMATE to download YouTube videos.. Its available on internet not in play store..

  36. @neha -I am too preparing for upsc.and my optional is sociology.i am doing g.s .if you available for discussion its good and we can set weekly target too.to speed up study

  37. I cant download the above lecture please help me

  38. i need to download the lecture series : [Economy Lecture3] Finance: Shares, Bonds, E-IPO, ADR-GDR, Municiple Bonds, P-Notes, Inflation Indexed Bonds

  39. sir ppt not in a understandable format sir plz upload in english text


  41. I m unable to download power point of these lecture,,,,, plz sir solve my problem

  42. Sir, i’m a non- hindi student.
    Please give the exact link for PPT

  43. cant find this PPT in the download section . Could you please provide the link

  44. powerpoint file of above documents are not available in blog.Kindly upload.

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