The securities market has seen transcendental growth and newer financial innovations have led to a greater influx of capital, including making foreign investment more accessible. The development of the securities market has necessarily had to be accompanied by various regulatory reforms, including changes in its definition and liberalization measures. However, while such foreign capital inflows and greater access have helped India's securities market, infrastructure development, technology transfer, and job creation, the creative moulding of the term has facilitated the greatest economic frauds.Through this article, I will be arguing the need to come up with a staunch criterion for defining securities to prevent any scams which will affect capital generation, and thus impact the economy's credibility across the world.
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