• Nilesh Vitthal Limbore
• Miss. Pawar Poonam S

Merchant banking is a financial institution which provides service to their clients. Merchant banking provides not only financial services but also guides them to move on right path with the help of rules given by SEBI. Merchant banking provides share ownership instead of loans. Merchant banking covers wide range such as portfolio management, customer services, counselling etc. Merchant banking offer fee-based and non-fee-based services like loan syndication, underwriting, project promotion, advisory to small and medium savers. Merchant banking has a long-term approach than investment. This study helps to understand the concept of merchant banking. This paper shows the linkage between intermediations function and economic development in India. There should be collaboration between financial institution and finance company to built a financial system in India. This study helps to understand the prime objective, functions, role in the market and recent development in merchant banking.

Merchant banking, financial institution, portfolio management, counselling.

"A LITERATURE REVIEW OF MERCHANT BANKING IN INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 4, page no.5-10, April-2019, Available :http://www.jetir.org/papers/JETIR1904602.pdf

"A LITERATURE REVIEW OF MERCHANT BANKING IN INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 4, page no. pp5-10, April-2019, Available at : http://www.jetir.org/papers/JETIR1904602.pdf