†kqvi, eÛ I wW‡eÂvi BDwbU

Share, Bond and Debenture 7

f~wgKv
†Kv¤úvwb KZ„©K Bmy¨K…Z †kqvi, eÛ I wW‡eÂvi wewb‡qvMKvix‡`i Rb¨ wewb‡qv‡Mi Drm wn‡m‡e we‡ewPZ nq|
wewb‡qv‡Mi Drm wn‡m‡e e¨eüZ Gme wmwKDwiwUR¸‡jvi wbR¯^ ˆewkó¨, myweav Ges Amyweav i‡q‡Q| G¸‡jvi
cÖ‡Z¨KwUi wbR¯^ ¯^KxqZv i‡q‡Q Ges cÖwZwU †_‡K wewb‡qvMKvixi Avq Ges SzuwK‡Z wfbœZv i‡q‡Q| d‡j GKRb
wewb‡qvMKvixi wewb‡qvM wm×všÍ †bqvi c~‡e© cÖwZwUi wewfbœ w`K m¤ú‡K© we¯ÍvwiZ Rvbv `iKvi| ‡h †Kvb
wewb‡qvMKvwi †Kv¤úvwb KZ…©K Bmy¨K…Z mvaviY †kqvi, AMÖvwaKvi †kqvi, eÛ Ges wW‡eÂvi G‡`i †h‡Kv‡bv GK ev
GKvwaK wmwKDwiwU‡R wewb‡qvM Ki‡Z cv‡i| G BDwb‡U wewb‡qvMKvixi `„wó‡KvY †_‡K Gme wewb‡qvM nvwZqvi
m¤ú‡K© we¯ÍvwiZ Av‡jvPbv Kiv n‡e|

BDwbU mgvwßi mgq BDwbU mgvwßi m‡e©v”P mgq 2 mßvn

GB BDwb‡Ui cvVmg~n
cvV-7.1 : †kqvi, eÛ I wW‡eÂv‡ii avibv, ‡kqv‡ii cÖKvi‡f` I ˆewkó¨|
cvV-7.2 : †kqvi, eÛ I wW‡eÂv‡ii myweav I Amyweav, Zzjbvg~jK cv_©K¨|
cvV-7.3 : evsjv‡`‡ki †kqvievRvi, jf¨vsk I jf¨vsk bxwZ|

g~L¨ kã †kqvi, eÛ, wW‡eÂvi, †kqvi evRvi, jf¨vsk I jf¨vsk bxwZ|

GmGmwm †cÖvMÖvg

†kqvi, eÛ I wW‡eÂv‡ii avibv, ‡kqv‡ii †kÖwYwefvM I

cvV-7.1 ˆewkó¨
D‡Ïk¨
G cvV †k‡l Avcwb-

†kqvi, eÛ I wW‡eÂv‡ii aviYv e¨vL¨v Ki‡Z cvi‡eb|

wewfbœ cÖKv‡ii †kqv‡ii †kªwYwefvM e¨vL¨v Ki‡Z cvi‡eb|

wewfbœ cÖKvi †kqv‡ii ‰ewkó¨mg~n e¨vL¨v Ki‡Z cvi‡eb|

‡kqvi
‡kqvi n‡jv GKwU WKz‡g›U hv †Kv¤úvwbi AvswkK gvwjKvbv Dc¯’vcb K‡i| cÖK…Zc‡ÿ
†kqvi‡nvìviivB †Kv¤úvwbi cÖK…Z gvwjK| GKwU †Kv¤úvwb mvaviY †kqvi ev AMÖvwaKvi †kqvi weµq K‡i BKz¨BwU
gyjab msMÖn Ki‡Z cv‡i| †Kv¤úvwbi †kqvi g~ja‡bi ¶z`ª A_P mgvb cÖ‡Z¨KwU GKK‡K †hfv‡e †kqvi bv‡g
AwfwnZ Kiv nq ÷‡Ki †¶‡Î Zv nIqv Avek¨K bq| GK j¶ UvKvi †kqvi g~jab‡K `k nvRvi †kqv‡i wef³
Kiv n‡j cÖwZwU ‡kqv‡ii gyj¨ `k UvKv n‡e wKš‘ ÷‡Ki †ÿ‡Î cÖwZwU GK‡K mgcwigvY g~‡j¨i n‡Z n‡e Ggb
bq| ÷K‡K myweav Abyhvqx cuvP UvKv, `k UvKv, wek UvKv g~‡j¨i ÷‡K iƒcvšÍi Kiv †h‡Z cv‡i|
‡kqvi‡K ÷‡K cwiYZ Ki‡Z n‡j †Kv¤úvwbi mvaviY mfvq we‡kl cÖ¯vÍ e cvm Ki‡Z nq Ges cÖ¯vÍ e cv‡mi cieZx©
c‡bi w`‡bi g‡a¨ G m¤ú‡K© †Kv¤úvwb wbeÜK‡K AewnZ Ki‡Z nq| Gici m`m¨ m~wP‡Z cÖ‡Z¨K m`‡m¨i bv‡gi
cv‡k ewY©Z Zvi †kqvi cwigv‡Yi ¯’‡j ÷‡Ki cwigvY I g~j¨ D‡jøL Ki‡Z nq| Aek¨ mvaviY mfvi wm×všÍµ‡g
cieZx© mg‡q ÷K‡K cybivq †kqv‡i cwiYZ Kiv hvq| Avgv‡`i Dcgnv‡`‡k †kqvi I ÷‡Ki g‡a¨ cv_©K¨ Kiv
n‡jI hy³iv‡óª †kqvi I ÷‡Ki g‡a¨ †Kv‡bv cv_©K¨ Kiv nq bv| †mLv‡b mvaviYfv‡e †kqvi‡K ÷K ejv n‡q
_v‡K|
eÛ
eÛ n‡jv `xN©‡gqvw` F‡Yi `wjj hv Bmy¨Kvwi cÖwZôvb‡K GKwU wbw`©ó mgq c‡i GKwU wbw`©ó cwigvY A_©
eÛ‡nvìvi‡K cÖ`v‡b eva¨ K‡i| wewb‡qvMKvix‡`i Rb¨ wewb‡qv‡Mi Av‡iKwU nvwZqvi n‡”Q eÛ| evsiv†`‡k
AwaKvsk †Kv¤úvwb e¨vsK ev Ab¨vb¨ Avw_©K cÖwZôvb †_‡K FY MÖnY K‡i FY g~ja‡bi ms¯’vb K‡i| d‡j
wewb‡qv‡Mi nvwZqvi wn‡m‡e eÛ GLbI Avgv‡`i †`‡k Lye †ewk cwiwPwZ bv †c‡jI mv¤úªwZK mg‡q wewfbœ cÖwZôvb
eÛ Bmy¨ K‡i Znwej msMÖn Ki‡Z ïiæ K‡i‡Q| mvavibZ e‡Ûi GKwU AewnZ g~j¨ _v‡K Ges GKwU wbw`©ó nv‡i
my` cÖ`vb Kiv nq hv Kz¨cb †iU bv‡g cwiwPZ Ges Gi GKwU wbw`©ó †gqv` _v‡K|
wW‡eÂvi
wW‡eÂvi n‡”Q GKwU `xN©‡gqvw` RvgvbZwenxb eÛ| e‡Ûi AwaKvsk ˆewkó¨B wW‡eÂv‡i we`¨gvb| wW‡eÂv‡ii
wecix‡Z †Kv‡bv m¤ú` RvgvbZ ivLv nq bv| wW‡eÂv‡ii wecix‡Z RvgvbZ ivLv nq bv weavq me †Kv¤úvwb‡K
wW‡eÂvi Bmy¨ Kivi AbygwZ cÖ`vb Kiv nq bv| mvaviYZ eo I ¯^bvgab¨ †Kv¤úvwb Ges hviv Avw_©Kfv‡e A‡bK
¯^”Qj Zv‡`i‡K wW‡eÂvi Bmy¨ Kivi AbygwZ cÖ`vb Kiv nq| †hgb: AvBweGg, BDwbwjfvi, ¯‹qvi BZ¨vw`| eÛ I
AMÖvwaKvi †kqv‡ii g‡Zv wW‡eÂviI evsjv‡`‡k Lye †ewk †`Lv hvq bv|
‡kqv‡ii cÖKvi‡f`:
mvavibZ †kqvi‡K `yÕfv‡M fvM Kiv nq:
1. mvavib †kqvi
2. AMÖvwaKvi †kqvi

BDwbU mvZ c„ôv-82

 wdb¨vÝ I e¨vswKs

1. mvavib †kqvi: mvavibZ cvewjK wjwg‡UW †Kv¤úvwbi †kqvi Bmy¨ K‡i Znwej msMÖn K‡i _v‡K| ‡kqvi Bmy¨i
gva¨‡g Znwej msMÖn Kiv n‡j Zv‡K BKy¨BwU g~jab wn‡m‡e we‡ePbv Kiv nq| ‡i¸‡jUwi ewWi ev miKv‡ii
AbygwZ wb‡q b~¨bZg g~jab msMÖ‡ni ci msev`c‡Îi gva¨‡g weeiYcÎ Qvwc‡q †Kv¤úvwbwU m¤ú‡K© GKwU aviYv
w`‡q RbM‡Yi wbKU †kqvi µ‡qi Av‡e`b PvIqv nq| Av‡e`b Rgv n‡j †mLvb n‡Z jUvwii gva¨‡g †kqvi eÈb
Kiv nq| d‡j ¶z`ª wewb‡qvMKvixivI †kqvi µq K‡i D³ †Kv¤úvwb‡Z wewb‡qvM Kivi my‡hvM †c‡q _v‡K| GivB
cÖK…Z c‡¶ †Kv¤úvwbi gvwjK| Bnvi gvwjK‡`i †Kv¤úvwb wbqš¿‡Yi c~Y© ¶gZv †`qv nq Ges ¸iæZ¡c~Y© wm×všÍ MÖn‡Y
Zv‡`i †fvUvwaKvi cÖ‡qvM Kivi gva¨‡g †Kv¤úvwb‡K wbqš¿Y Ki‡Z cv‡i| mvaviY †kqvi mn‡R n¯ÍvšÍi‡hvM¨ Ges
wewb‡qvMKvix B‡”Q Ki‡j †h‡Kv‡bv mgq †kqvi n¯ÍvšÍi Ki‡Z cv‡i|
cÖwZôv‡bi jvf n‡j G‡`i g‡a¨B gybvdv jf¨vsk wnmv‡e e›Ub Kiv nq| †kqvi‡nvìvi‡`i wewb‡qvMK…Z A_©
†diZ‡hvM¨ bq| Z‡e bM` A‡_©i cÖ‡qvRb n‡j †kqvi‡nvìviiv †m‡KÛvwi gv‡K©‡U (†hgb: XvKv ÷K G·‡PÄ)
AwaK g~‡j¨ †kqvi weµq K‡i gybvdv AR©b Ki‡Z cv‡i| mvaviYZ jvfRbK †Kv¤úvwbi †¶‡Î †kqvi‡nvìviiv
wbqwgZfv‡e jf¨vsk †c‡q _v‡K| Z‡e jf¨vsk cÖ`v‡bi †Kv‡bv wbw`©ó nvi c~e© wba©vwiZ _v‡K bv| †Kv¤úvwbi Rb¨
jf¨vsk cÖ`vb Kiv eva¨Zvg~jKI bq| gybvdv bv n‡j mvaviYZ jf¨vsk cÖ`vb Kiv nq bv| gybvdv n‡jI m¤ú~Y©
As‡Ki gybvdv jf¨vsk wn‡m‡e eÈb Kiv nq bv| †Kv¤úvwb B‡”Q Ki‡j †h‡Kv‡bv nv‡i jf¨vsk cÖ`vb Ki‡Z cv‡i,
Avevi jf¨vsk bvI cÖ`vb Ki‡Z cv‡i| Z‡e †m‡¶‡Î †kqvi‡nvìvi‡`i Kvw•¶Z cwigvY jf¨vsk cÖ`vb Ki‡Z bv
cvi‡j †m‡KÛvwi gv‡K©‡U †kqv‡ii g~j¨ n«vm cvq, hv †Kv¤úvwbi Rb¨ ÿwZKi| ZvB mvaviY †kqv‡i wewb‡qvM
me‡P‡q SzuwKc~Y© wewb‡qvM wn‡m‡e we‡ewPZ nq| Z‡e SzuwKc~Y© wewb‡qvM nIqvq GiKg †kqvi †_‡K Av‡qi m¤¢vebvI
†ewk _v‡K|
2. AMÖvwaKvi †kqvi: †hme wewb‡qvMKvix †kqv‡i wewb‡qvM †_‡K wbw`©ó nv‡i Avq Ki‡Z Pvq, Zv‡`i Rb¨
AMÖvwaKvi †kqvi GKwU fv‡jv wewb‡qv‡Mi Drm wn‡m‡e we‡ePbv Kiv nq| AMÖvwaKvi †kqvi n‡jv Ggb GK ai‡bi
†kqvi hv Gi †µZv‡K Avw_©K myweav I Aemvq‡bi mgq AMÖvwaKvi cÖ`vb Kiv nq| AMÖvwaKvi †kqv‡nvìvi‡`i
gybvdv e›U‡bi mgq AMÖvwaKvi †`qv nq Ges me© cÖ_g jf¨vsk cÖ`vb Kiv nq| Zvici mvavib †kqvi‡nvìvi‡`i
jf¨vsk e›Ub Kiv nq| Gai‡bi †kqvi‡nvìvi‡`i †fvUvwaKvi ‡bB Ges Giv †Kv¤úvwbi gvwjK bq| A‡bK mgq
AMÖvwaKvi †kqvi GKwU wbw`©ó mgq ci mvaviY †kqv‡i iƒcvšÍi Kivi weKí my‡hvM ‡`qv nq| d‡j wewb‡qvMKvix
B‡”Q Ki‡j GB my‡hvM e¨envi K‡i mvaviY †kqvi gvwjK n‡Z cv‡i|
GQvov I ‡kqvi‡K Av‡iv K‡qK fv‡M fvM Kiv hvq, ‡hgb:
1. ivBU †kqvi
2. ‡evbvm †kqvi
3. wejw¤^Z ‡kqvi
1. ivBU †kqvi: GKwU MV‡bi civeZ©xKv‡j hw` †Kv¤úvwbi A‡_©i cÖ‡qvRb nq Ges G‡ÿ‡Î †kqvi weµq Kivi
mgq cyivZb †kqvi‡nvìviiv †kqvi µ‡qi †ÿ‡Î AMÖvwaKvi †c‡q _v‡K ZLb Zv‡K ivBU †kqvi e‡j| A_©vr
†Kv¤úvwbi g~jab cÖ‡qvRb n‡j Gai‡bi †kqvi weµq Kivi wm×všÍ MÖnY K‡i Ges cyivZb †kqvi gvwjKMY
Gai‡bi †kqvi µq Kivi AwaKvi msiÿb K‡i| Gai‡bi weµq‡hvM¨ †kqvi‡K ivBU †kqvi e‡j|
2. ‡evbvm †kqvi: hLb †Kvb †Kv¤úvwb Zv‡`I AwR©Z wbU gybvdvi GKwU Ask †kqvi gvwjK‡`i g‡a¨ bM`
jf¨vsk wn‡m‡e e›Ub bv K‡i Aew›UZ gybvdv †kqv‡i iƒcvšÍi K‡i ‡gqvi‡nvìvi‡`i g‡a¨ AvbycvwZKnv‡i e›Ub
Kiv nq ZLb Zv‡K †evbvm †kqvi e‡j|
3. wejw¤^Z ‡kqvi: †h ‡kqvi‡nvìvi‡`i mevi †k‡l ev wej‡¤^ jf¨vsk cÖ`vb Kiv nq Zv‡K wejw¤^Z ‡kqvi e‡j|
A_©vr Gai‡bi †kqvi‡Rvìvi‡`i Ab¨vb¨ †kqvi‡nvìvi‡`i jf¨vsk cÖ`vb Kivi c‡i AvbycvwZKnv‡i jf¨vsk
cÖ`vb Kiv nq| Avevi ‡Kv¤úvwb Aemvq‡bi mgqI Gai‡bi †kqvi gvwjK‡`i Avw_©K `vwe mevi †k‡l
cwi‡kva Kiv nq| Gai‡bi ‡kqvi mvavibZ †Kv¤úvwbi cÖeZ©KMY µq K‡i _v‡K| †mRb¨ Gai‡bi †kqvi‡K
cÖeZ©‡Ki †kqvi e‡j AewnZ Kiv nq|

BDwbU mvZ c„ôv-83

GmGmwm †cÖvMÖvg

mvaviY †kqv‡ii ‰ewkó¨

mvavib †kqv‡ii ‰ewkó¨ mgyn wb‡P Av‡jvPbv Kiv n‡jv:
1. gvwjKvbv: mvaviY †kqvi‡nvìviMYB GKwU †Kv¤úwbi cÖK…Z gvwjK| †h †Kvb e¨w³ ev cÖwZôvb †Kv¤úvwbi
mvaviY †kqvi µ‡qi gva¨‡g gvwjKvbv jvf K‡ib| Z‡e Giv †h cwigvY †kqvi avib K‡i †m cwigvY As‡ki
gvwjK ejv nq| A_©vr G‡`i‡K ‡Kv¤úvwbi AvswkK gvwjK ejv nq|
2. Avw¼K gyj¨: Avw¼K g~j¨ ej‡Z †kqv‡ii Mv‡q wjwLZ g~j¨‡K eySvq| cÖwZwU †kqv‡ii GKwU wbw`©ó wjwLZ gyj¨
_v‡K|
3. ‡fvUvwaKvi: mvaviYZ cÖ‡Z¨K mvaviY †kqvi‡nvìviM‡Yi GKwU K‡i †fvU cÖ`v‡bi AwaKvi i‡q‡Q| †kqvi
gvwjKMY †Kv¤úvwbi †h †Kvb ¸iæZ¡c~Y© wel‡q wm×všÍ MÖn‡Yi Rb¨ Zv‡`i †fvUvwaKvi cÖ‡qvM Ki‡Z cv‡i| GB
†fvUvwaKvi cÖ‡qvM K‡i Zviv †Kv¤úvwbi cwiPvjK cl©` wbe©vPb K‡ib| evwl©K mvaviY mfvq GB wbe©vPb
AbywôZ n‡q _v‡K|
4. jf¨vsk: wbU Av‡qi †h Ask †kqvi‡nvìviM‡Yi g‡a¨ e›Ub Kiv nq Zv‡K jf¨vsk e‡j| jf¨vsk cÖ`vb
†Kv¤úvwbi cwiPvjK cl©‡`i wm×v‡šÍi Dci wbf©i K‡i| †ewkifvM †Kv¤úvwb evrmwiK wfwˇZ jf¨vsk cÖ`vb
K‡i _v‡K| jf¨vsk `yÕfv‡e cÖ`vb Kiv nq| †hgb- bM` jf¨vsk Ges ÷K jf¨vsk |
5. mxgve× `vq: †kqvi‡nvìvi‡`i `vq Zv‡`i †kqvi cÖwZ wewb‡qvMK…Z A‡_©i cwigvY Øviv mxgve×| ‡hgb: Zzwg
¯‹qvi dvg©vwmDwUK¨vjm †Kv¤úvwbi 100 UvKv g~‡j¨i 100wU †kqvi µq K‡i‡Q| G‡¶‡Î †Zvgvi `vq 10,000
UvKvi g‡a¨ mxgve× _vK‡e|
6. ‡gqv`: mvaviY †kqv‡ii wbw`©ó †Kvb †gqv` _v‡K bv| GwU cviwcPzqvj ev wPi¯’vqx| hZw`b †Kv¤úvwbi Aw¯ÍZ¡
_vK‡e †kqvi‡nvìviMY ZZw`b H †Kv¤úvwbi gvwjK _vK‡eb| Z‡e Gi gvwjKvbv n¯ÍvšÍi Kiv hvq|
7. ‡Kv¤úvwbi Dci wbqš¿Y: †kqvi‡nvìviMY †Kv¤úvwbi cÖK…Z gvwjK nIqvq Zviv †Kv¤úvwbi hveZxq Kvh©µg
‡fvUvwaKvi cÖ‡qvM Kivi gva¨‡g wbqš¿Y Ki‡Z cv‡i| KviY, †kqv‡nvìvi‡`i Øviv wbe©vwPZ cwiPvjbv cl©`
†Kv¤úvwbi mvwe©K e¨e¯’vcbvi `vwq‡Z¡ _v‡K|

AMÖvwaKvi ‡kqv‡ii ˆewkó¨

wb‡P AMÖvwaKvi †kqv‡ii ˆewkómg~n Av‡jvPbv Kiv n‡jv:
1. jf¨vsk: AMÖvwaKvi †kqv‡ii gvwjKMY jf¨vsk cÖvwßi †ÿ‡Î mvavib †kqvi‡nvìv‡`i †P‡q AMÖvwaKvi cvq Ges
wbw`©ó nv‡i jf¨vsk †c‡q _v‡Kb|
2. cwi‡kva: mvaviYZ AMÖvwaKvi †kqvi g~ja‡bi †¶‡Î Kvb wbw`©ó ZvwiL _v‡K bv| Z‡e we‡kl †¶‡Î Bmy¨Kvix
cÖwZôvb cwi‡kv‡ai e¨vcv‡i wbw`©ó ZvwiL AšÍf~©³ Ki‡Z cv‡i|
3. µgms‡hvwRZ jf¨vsk: †ewkifvM AMÖvwaKvi †kqvi n‡jv µgms‡hvwRZ AMÖvwaKvi †kqvi| †Kvb eQi ch©vß
cwigvY Avq bv nIqvi Kvi‡Y †Kv¤úvwb hw` jf¨vsk cÖ`vb Ki‡Z bv cv‡i †h eQi †Kv¤úvwb gybvdv Ki‡e †mB
eQi †Kv¤úvwb‡K c~‡e©i mKj eQ‡ii AcÖ`Ë ev e‡Kqv jf¨vsk †kqvi gvwjK‡`i cÖ`vb Ki‡Z nq|
4. ‡fvUvwaKvi: mvavib †kqv‡ii gZ AMÖvwaKvi †kqvi †nvìvi‡`i †Kvb †fvUvwaKvi _v‡K bv| Giv †Kvb †fvU
cÖ‡qvM Ki‡Z cv‡i bv|
5. iƒcvšÍi‡hvM¨Zv: eZ©gv‡b AwaKvsk AMÖvwaKvi †kqvi mvavib †kqv‡i iƒcvšÍi Kivi m‡qvM †`qv nq| A_©vr
AMÖvwaKvi †kqvi gvwjKMY GKwU wbw`©ó mgq AšÍi mvaviY †kqv‡i iƒcvšÍi Ki‡Z cv‡i|

BDwbU mvZ c„ôv-84

 wdb¨vÝ I e¨vswKs

e‡Ûi ˆewkó¨:
wb‡P wewb‡qvMKvixi `„wó‡KvY †_‡K e‡Ûi ˆewkó¨ mg~n Av‡jvPbv Kiv n‡jv:
1. †dm f¨vjy: AMÖvwaKvi †kqv‡ii AewnZg~j¨ _v‡K| mvavibZ 1000 UvKv AewnZg~‡j¨ eÛ Bmy¨ Kiv nq| GB
g~j¨ e‡Ûi †gqv` c~wZ©‡Z eÛ‡nvìvi‡K Bmy¨Kvwi cÖwZôvb cwi‡kva K‡i _v‡K|
2. RvgvbZ: e‡Ûi wecix‡Z mvaviYZ ¯’vqx m¤úwË RvgvbZ wn‡m‡e ivLv nq| hw` eÛ Dmy¨Kvwi †Kv¤úvwb
wewb‡qvMKvix‡`i cvIbv cwi‡kva Ki‡Z e¨_© nq bv Zvn‡j Gme m¤úwË wewµ K‡i eÛ‡nvìvi‡`i cvIbv A_©
cwi‡kva Kiv nq|
3. cwicK¡Zvi mgq: †Kv¤úvwb KZ…©K Bmy¨K…Z e‡Ûi GKwU wbw`©ó cwicK¡Zvi mgq D‡jøL _v‡K| G Zvwi‡L eÛ
cwicK¡ nq Ges wewb‡qvMKvix e‡Û DwjøwLZ wjwLZ g~j¨ †diZ cvq|
4. FY`vZv: eÛ Bmy¨Kvwi cÖwZôvb‡K FY MÖnxZv wn‡m‡e we‡ePbv Kiv nq Ges e‡Ûi †µZv‡K FY`vZv wn‡m‡e
MY¨ Kiv nq| d‡j eÛ‡nvìvi‡`i †Kvb †fvUvwaKvi _v‡K bv|
5. iƒcvšÍi‡hvM¨Zv: eÛ Bmy¨Kvwi cÖwZôvb A‡bK mgq iƒcvšÍi‡hvM¨ eÛ Bmy¨ K‡i _v‡K| G‡¶‡Î eÛ‡nvìviv
DwjøwLZ kZ© Abymv‡i Zv‡`i aviYK…Z eÛ‡K wbw`©ómsL¨K mvaviY †kqv‡i iƒcvšÍi Ki‡Z cv‡i|
GKRb wewb‡qvMKvixi `„wó‡KvY †_‡K mvaviY †kqvi, AMÖvwaKvi †kqvi, eÛ
wk¶v_©xi KvR I wW‡eÂvi Gi g‡a¨ Zzjbvg~jK cv_©K¨ wePvi Ki Ges G m¤ú‡K© AwR©Z Ávb
hvPvB K‡i Zzwg ‡Zvgvi wkLYKvh©wU SvjvB K‡i †bI|

mvims‡¶c :

‡kqvi n‡jv GKwU WKz‡g›U hv †Kv¤úvwbi AvswkK gvwjKvbv Dc¯’vcb K‡i| cÖK…Zc‡ÿ †kqvi‡nvìviivB
†Kv¤úvwbi cÖK…Z gvwjK| AMÖvwaKvi †kqvi n‡jv Ggb GK ai‡bi †kqvi hv Gi †µZv‡K Avw_©K myweav I
Aemvq‡bi mgq AMÖvwaKvi cÖ`vb Kiv nq| eÛ n‡jv `xN©‡gqvw` F‡Yi `wjj hv Bmy¨Kvwi cÖwZôvb‡K GKwU
wbw`©ó mgq c‡i GKwU wbw`©ó cwigvY A_© eÛ‡nvìvi‡K cÖ`v‡b eva¨ K‡i| wW‡eÂvi n‡”Q GKwU `xN©‡gqvw`
RvgvbZwenxb eÛ|

cv‡VvËi g~j¨vqb-7.1

mwVK Dˇii cv‡k wUK (√√) wPý w`b|

1| GKwU †Kv¤úvwbi cÖK…Z gvwjK Kv‡K ejv nq?
K. ‡kqvi‡nvìvi‡K L. eÛ‡nvìvi‡K
M. FYc‡Îi gvwjK‡K N. cvIbv`vi‡K

2| wb‡Pi †Kvb wmwKDwiwU‡Ri Dci wewb‡qvMKvix‡`i‡K wbw`©ó nv‡i jf¨vsk cÖ`vb Kiv nq?
K. mvaviY †kqvi L. AMÖvwaKvi †kqvi
M. Kzcb eÛ N. wW‡eÂvi

3| wb‡Pi †KvbwU RvgvbZwenxb eÛ?

K. mvaviY †kqvi L. AMÖvwaKvi †kqvi
M. wW‡eÂvi N. wR‡iv K~cb eÛ

BDwbU mvZ c„ôv-85

GmGmwm †cÖvMÖvg

cvV-7.2 †kqvi, eÛ I wW‡eÂv‡ii myweav I Amyweav, Zzjbvg~jK cv_©K¨

D‡Ïk¨
G cvV †k‡l Avcwb-

‡kqvi, eÛ I wW‡eÂvi Gi myweav mg~n e¨vL¨v Ki‡Z cvi‡eb|

‡kqvi, eÛ I wW‡eÂvi Gi Amyweav mg~n e¨vL¨v Ki‡Z cvi‡eb|

‡khvi I AMÖvwaKvi †kqv‡ii g‡a¨ cv_©K¨ mg~n e¨vL¨v Ki‡Z cvi‡eb|

mvavib †kqv‡ii myweav I Amyweav

wewb‡qv‡Mi nvwZqvi wn‡m‡e mvaviY †kqv‡ii wKQy myweav I Amyweav i‡q‡Q| †m¸‡jv ms‡ÿ‡c Av‡jvPbv
Kiv n‡jv:
myweav
1. AwaK Avq: GKwU fvj mvaviY †kqvi wewb‡qvM Kiv n‡j wewb‡qvMKvixi Rb¨ fv‡jv Av‡qi Drm n‡Z cv‡i|
wewb‡qv‡Mi Ab¨vb¨ Drm †hgb: AMÖvwaKvi †kqvi, eÛ I wW‡eÂvi †_‡K wewb‡qvMKvixiv wbw`©ó nv‡I Avq †c‡q
_v‡K| wKš‘ mvaviY †kqvi †_‡K Avq wbw`©ó _v‡K bv| d‡j †Kv¤úvwb AwaK Avq Ki‡j wewb‡qvMKvix‡`i cÖvß
AvqI e„w× cvq|
2. mxgve× `vq: mvaviY †kqvi gvwjKiv †hŠ_fv‡e †Kv¤úvwbi SzuwK enb K‡i| †Kv‡bv Ae¯’v‡ZB GKRb
wewb‡qvMKvixi SzuwK Zvi wewb‡qvMK…Z A‡_©i AwaK nq bv| ZvB mvavib ‡kqvi‡nvìvi‡`I `vq Zv‡`i †kqv‡ii
cwigvY Øviv mxgve× _v‡K|
3. Zvij¨: mvaviY †kqvi wewb‡qvMKvixi Kv‡Q Zij m¤ú` wn‡m‡e MY¨ nq| KviY †h‡Kv‡bv mgq mvaib †kqvi
wewµ K‡i bM` UvKvq iƒcvšÍi Kiv hvq|
Amyweav
1. SzuwK: mvaviY †kqv‡i wewb‡qvM A‡c¶vK…Z AwaK SzuwKc~Y|© †kqvievRv‡i A‡bK dUKv wewb‡qvMKvix ev Ryqvwo
_v‡K hviv †kqv‡ii g~j¨‡K cÖfvweZ K‡i _v‡K| d‡j mwVK †kqv‡i wewb‡qvM Ki‡Z bv cvi‡j ¶wZ nIqvi Avk¼v
‡e‡o hvq|
2. gybvdv I m¤úwË eȇb AwaKvi: ‡Kv¤úvwbi jf¨vsk eȇbi mgq AMÖvwaKvi †kqvi, eÛ I FYc‡Îi gvwjK‡`i
cÖvß Avq mevi Av‡M cwi‡kva Kiv nq Zvici hw` †Kvb A_© Aewkó _v‡K Zv mvaviY †kqvi gvwjK‡`i g‡a¨ e›Ub
Kiv nq| Avevi †Kv¤úvwb Aemvqb mgq m¤úwË wewµ †_‡K cÖvß A_© w`‡q mKj `vq cwi‡kva Kivi ci Aewkó
A_© †kqvi gvwjK‡`I gv‡S e›Ub Kiv nq| A_©vr, Dfq †¶‡ÎB AMÖvwaKvi †kqvi, eÛ I FYcÎ gvwjK‡`i `vwe
c~i‡Yi †ÿ‡Î mvaviY †kqvi gvwjK‡`i †P‡q AMÖvwaKvi cÖ`vb Kiv nq|
AMÖvwaKvi †kqv‡ii myweav I Amyweav
wewb‡qvMKvixi `„wó‡KvY †_‡K AMÖvwaKvi †kqv‡ii wKQz myweav I Amyweav i‡q‡Q| wb‡¤œ †m¸‡jv Av‡jvPbv Kiv
n‡jv:
myweav
1. wbw`©ó nv‡i Avq: AMÖvwaKvi †kqvi gvwjK‡`i‡K wbw`©ó nv‡i jf¨vsk cÖ`vb Kiv nq| d‡j G‡`i Avq mvavibZ
wbwðZ _v‡K|

BDwbU mvZ c„ôv-86

 wdb¨vÝ I e¨vswKs

2. jf¨vs‡ki Dci AMÖvwaKvi: jf¨vsk cÖ`v‡bi mgq AMÖvwaKvi †kqvi gvwjK‡`i‡K mvaviY †kqvi gvwjK‡`i †P‡q
AMÖvwaKvi cÖ`vb Kiv nq| mevi Av‡M G‡`i‡K jf¨vsk cÖ`vb Kiv nq|
3. m¤ú‡`i Dci `vwe: †Kv¤úvwb Aemvqb ev wejywßi mgq m¤ú‡`i Dci AMÖvwaKvi †kqvi gvwjK‡`i `vwe mvaviY
†kqvi gvwjK‡`i `vwei c~‡e© cwi‡kva Kiv nq| Z‡e FYc‡Îi gvwjK‡`i `vwei c~iY Kivi ci G‡`i `vwe c~iY
Kiv nq|
Amyweav
1. wbqš¿Y: AMÖvwaKvi †kqvi gvwjK‡`i †Kv‡bv †fvUvwaKvi cÖ‡qvM Kivi AwaKvi _v‡K bv| d‡j Giv ‡fvUvwaKvi
cÖ‡qvM K‡i †Kv¤úvwbi Dci wbqš¿Y cÖwZôv Ki‡Z cv‡I bv|
2. mxwgZ Avq: AMÖvwaKvi †kqvi gvwjK‡`i Avq mxwgZ KviY G‡`i‡K wbw`©ó nv‡i jf¨vsk cÖ`vb Kiv nq| _v‡K|
d‡j †Kv¤úvwb AwZwi³ gybvdv Ki‡jI AMÖvwaKvi †kqvi gvwjK‡`i‡K †Kvb AwZwi³ jf¨vsk cÖ`vb Kiv nq bv|

e‡Ûi myweav I Amyweav

eÛ n‡jv GKwU `xN©‡gqvw` F‡Yi `wjj| Gi wKQz myweav I Amyweav i‡q‡Q| †m¸‡jv wb‡P Av‡jvPbv Kiv n‡jv:
myweav
1. my‡`i nvi: e‡Ûi †ÿ‡Î my‡`i nvi wbw`©ó _v‡K d‡j e‡Û wewb‡qvMKvix‡`i AvqI wbw`©ó _v‡K| d‡j Zv‡`i
Av‡qi wbwðqZv _v‡K|
2. SzuwK Kg: eÛ Bmy¨Kvwi cÖwZôvb‡K e‡Ûi wecix‡Z ¯’vqx ev Ab¨vb¨ m¤úwË RvgvbZ wn‡m‡e ivL‡Z nq| d‡j
e‡Û wewb‡qvMKvix‡`i SzuwK Kg _v‡K|
3. gybvdv Ges m¤ú‡`i Dci AwaKvi : †Kv¤úvwbi wbU gybvdv †_‡K me©c_Ö g eÛ gvwjK‡`i my` cÖ`vb Kiv nq Ges
†Kv¤úvwb wejywß ev Aemvq‡bi mgq m¤ú` wewµ †_‡K cÖvß A_© w`‡q me©c_Ög eÛ gvwjK‡`i cvIbv UvKv cwi‡kva
Kiv nq| A_v©r †h †Kvb Avw_©K `vwe c~i‡Yi mgq eÛ gvwjK‡`i `vwe mvaviY Ges AMÖvwaKvi †kqvi gvwjK‡`i
`vwei c~‡e© cwi‡kva Kiv nq|

Amyweav
1. Kg Avq nvi: mvaviY †kqvi Ges AMÖvwaKvi †kqv‡ii Zzjbvq eÛ Kg SzuwKc~Y© nIqvq eÛ gvwjK‡`i Avq nviI
Kg nq|
2. wbqš¿Y: eÛ gvwjK‡`i †fvUvwaKvi _v‡K bv d‡j eÛ gvwjKiv †fvUvwaKvi cÖ‡qvM K‡i †Kv¤úvwb‡K wbqš¿Y
Ki‡Z cv‡‡i bv|

wW‡eÂv‡ii myweav I Amyweav

wewb‡qv‡Mi nvwZqvi wn‡m‡e wW‡eÂv‡ii wKQz myweav I Amyweav i‡q‡Q| †m¸‡jv wb‡P Av‡jvPbv Kiv n‡jv:

myweav
1. wbqwgZ Avq: wW‡eÂviI GK ai‡bi eÛ| ZvB G†`i‡K e‡Ûi b¨vq wW‡eÂv‡i wewb‡qvMKvix‡`i‡K GKwU wbw`©ó
nv‡i wbw`©ó mgq AšÍi AšÍi †gqv` c~wZ© ch©šÍ my` cÖ`vb Kiv nq|
2. wbw`©ó †gqv`: wW‡eÂvi mvavibZ GKwU wbw`©ó †gqv‡`i Rb¨ Dmy¨ Kiv nq| ZvB A‡bK wewb‡qvMKvix GwU‡Z
wewb‡qvM Ki‡Z AvMÖnx nq|

Amyweav
1. RvgvbZwenxb: wW‡eÂv‡ii wecix‡Z †Kvb m¤ú` RvgvbZ ivLv nq bv| d‡j GwU Ab¨vb¨ e‡Ûi †P‡q AwaK
SzuwKc~Y|©

BDwbU mvZ c„ôv-87

GmGmwm †cÖvMÖvg

2. wbqš¿Y: ‡h‡nZz wW‡eÂviI GKai‡bi eÛ ZvB GwUi gvwjK‡`iI †fvUvwaKvi _v‡K bv| d‡j †Kv¤úvwbi
cwiPvjbvi †ÿ‡Î wW‡eÂvi gvwjKiv wbqš¿Y Ki‡Z cv‡i bv|
3. gybvdv I m¤ú‡` AwaKvi: eÛ gvwjK‡`i my` cwi‡kva Kivi ci wW‡eÂvi gvwjK‡`i my` cwi‡kva Kiv nq|
Abyiƒcfv‡e †Kv¤úvwbi wejywß ev Aemvq‡bi mgqI eÛ gvwjK‡`i Avw_©K `vwe cwi‡kv‡ai ci wW‡eÂvi gvwjK‡`i
cvIbv cwi‡kva Kiv nq|

mvaviY †kqvi I AMÖvwaKvi †kqv‡ii g‡a¨ cv_©K¨

mvaviY †kqvi I AMÖvwaKvi †kqvi †hŠ_g~jabx †Kv¤úvwbi g~jab msMÖ‡ni Ab¨Zg Drm wn‡m‡e e¨eüZ nq| G‡`i
g‡a¨ †ek wKQz cv_©K¨ i‡q‡Q| †m¸‡jv wb‡P Av‡jvPbv Kiv n‡jv:
cv_©‡Ki welq mvaviY †kqvi AMÖvwaKvi †kqvi
1. msÁv ‡kqvi n‡jv GKwU WKz‡g›U hv †Kv¤úvwbi †h †kqvi gvwjK‡`i jf¨vsk
AvswkK gvwjKvbv Dc¯’vcb K‡i| cÖK…Zc‡ÿ cÖ`vb I Ab¨vb¨ Avw_©K `vwe
†kqvi‡nvìviivB †Kv¤úvwbi cÖK…Z gvwjK| cwi‡kv‡ai mgq AMÖvwaKvi cÖ`vb
Kiv nq Zv‡K AMÖvwaKvi †kqvi
e‡j|
2. jf¨vsk cÖvwß GwUi jf¨vs‡ki nvi wbw`©ó _v‡K bv| ‡Kv¤úvwbi GwUi Dci wbw`©ó nv‡i jf¨vsk
cwiPvjKM‡Yi wm×všÍ Abymv‡i jf¨vsk cÖ`vb cÖ`vb Kiv nq|
Kiv nq|
3. †fvUvwaKvi mvaviY †kqvi‡nvìviM‡Yi †fvUvwaKvi i‡q‡Q| AMÖvwaKvi †kqvi‡nvìviM‡Yi
†fvUvwaKvi †bB|
4. `vq cwi‡kva ‡Kv¤úvwb we‡jvc ev Aemvq‡bi mgq eÛ I ‡Kv¤úvwb we‡jvc ev Aemvq‡bi
AMÖvwaKvi †kqvi gvwjK‡`i `vq †gUv‡bvi ci mgq FY ev FYc‡Îi gvwjK‡`i
mvaviY †kqvigvwjK‡`i cvIbv cwi‡kva Kiv cvIbv †gUv‡bvi ci G‡`I cvIbv
nq| cwi‡kva Kiv nq|
5. †gqv` mvaviY †kqv‡ii †gqv` wPi¯’vqx| AMÖvwaKvi †kqvi wPi¯’vqx ev
cwi‡kva¨ n‡Z cv‡i|
6. µg‡hvwRZ ch©vß cwigvY gybvdv AwR©Z n‡jB ‡Kej Gi ch©vß cwigv‡Y gybvdv bv n‡j
jf¨vsk Dci jf¨vsk cÖ`vb Kiv nq| jf¨vsk cÖ`v‡b e¨_© n‡j
cieZx©Kv‡j gybvdv AwR©Z n‡j
e‡Kqv jf¨vsk mn jf¨vsk cÖ`vb
Kiv Ki‡Z nq|
8. iƒcvšÍi‡hv¨Zv GwU‡K AMÖvwaKvi †kqv‡i iƒcvšÍi Kiv hvq bv| GwU‡K kZ© Abyhvqx mvaviY
†kqv‡i iƒcvšÍi Kiv hvh|

‡kqvi, eÛ I wW‡eÂvi Gi myweav I Amyweav I G‡`i g‡a¨ cv_©K¨ K‡i K‡i

wk¶v_©xi KvR
G m¤ú‡K© AwR©Z Ávb hvPvB K‡i Zzwg ‡Zvgvi wkLYKvh©wU SvjvB K‡i †bI|

BDwbU mvZ c„ôv-88

 wdb¨vÝ I e¨vswKs

mvims‡¶c :
mvaviY †kqv‡ii myweav¸‡jv n‡jv: AwaK Avq, Zvij¨Zv I mxgve× `vq Ges Amyweav ¸‡jv n‡jv: AwaK SzuwK I
mevi c‡i gybvdv I Avw_©K `vwe cwi‡kva Kiv nq| AMÖvwaKvi †kqv‡ii myweav n‡jv: jf¨vsk I Avw_©K `vwe
cwi‡kv‡ai mgq AMÖvwaKvi †`Iqv nq Avi Amyweav n‡jv: †Kv¤úvwbi Dci G‡`i †Kvb wbqš¿b _v‡K bv Ges
AwaK Avq n‡jI Giv wbw`©ó jf¨vsk †c‡q _v‡K| eÛ Ges wW‡eÂvi Gi †ÿ‡Î wbw`ó nv‡I my` cÖ`vb Ki nq
Ges †Kv¤úvwbi Dci G‡`i ‡Kvb wbqš¿Y _v‡K bv|

cv‡VvËi g~j¨vqb-7.2

√) wPý w`b|
mwVK Dˇii cv‡k wUK (√
1| wb‡Pi †KvbwUi †fvU †`Iqvi AwaKvi i‡q‡Q?
K. ‡kqvi L. AMÖvwaKvi †kqvi
M. eÛ N. wW‡eÂvi

2| wb‡Pi †KvbwU ‡ÿ‡Î me©‡kl jf¨vsk cÖ`vb Kiv nq?

K. eÛ L. ‡kqvi
M. AMÖvwaKvi †kqvi N. wW‡eÂvi

3| wb‡Pi †KvbwU Bmy¨ Kivi mgq †Kvb m¤ú` RvgvbZ ivLv nq bv?
K. ‡kqvi L. eÛ
M. AMÖvwaKvi †kqvi N. wW‡eÂvi

BDwbU mvZ c„ôv-89

GmGmwm †cÖvMÖvg

cvV-7.3

evsjv‡`‡ki †kqvievRvi, jf¨vsk I jf¨vsk bxwZ
D‡Ïk¨
G cvV †k‡l Avcwb-

evsjv‡`‡ki †kqvi evRvi m¤ú‡K© e¨vL¨v Ki‡Z cvi‡eb|

‡kqvi evRv‡i wewb‡qvM c×wZ e¨vL¨v Ki‡Z cvi‡eb|

jf¨vsk I jf¨vsk bxwZ e¨vL¨v Ki‡Z cvi‡eb|

evsjv‡`‡ki †kqvievRvi
†kqvievRvi‡K g~jab evRvi ejv nq Ges GKwU †`‡ki A_©‰bwZK Dbœq‡b ¸iæZ¡c~Y© f~wgKv cvjb
K‡i| GRb¨ wewb‡qvMKvix‡`i cÖZ¨vkv _v‡K †kqvievRvi †hb myôzfv‡e cwiPvwjZ nq| †kqvievRv‡i wewb‡qvM
GKwU AZ¨šÍ SzuwKc~Y© wewb‡qvM| AZGe, GLv‡b wewb‡qvM m¤ú‡K© mwVK aviYv bv _vK‡j Avw_©K ÿwZ nIqvi
m¤¢vebv †e‡o hvq| GLv‡b wewb‡qvM Kivi c~‡e© †Kv¤úvwb¸‡jvi wewfbœ Z_¨ †hgb: †kqvicÖwZ Avq (BwcGm), cÖvBm
Aviwbsm †iwkI, jf¨vsk cÖ`v‡bi aib, †kqvi cÖwZ wbU m¤ú` g~j¨, e¨emv‡qi aib BZ¨vw` we‡kølY Kiv cÖ‡qvRb|
†Kv¤úvwb¸‡jvi cvkvcvwk wewfbœ wkí LvZ Ges †`‡ki A_©‰bwZK Ae¯’v m¤ú‡K© ch©vß Ávb AR©b I evRvi
we‡klÁ‡`i civgk© wb‡q wewb‡qvM wm×všÍ MÖnY Ki‡Z n‡e| ¸Re ev wg_¨v Z‡_¨i Dci wfwË K‡i wewb‡qvM Ki‡j
Avw_©K ÿwZ nIqvi m¤¢ebv †ewk|
†kqvi Bmy¨Kvix cÖwZôvb Ges †kqvi µq-weµq myôzfv‡e m¤úv`‡bi Rb¨ mycwÖ ZwôZ ‡kqvi evRvi cÖ‡qvRb|
Gai‡bi cÖwZôvb‡K ÷K G·‡PÄ e‡j| ‡Kv¤úvwb¸‡jv ÷K G·‡PÄ Gi gva¨‡g ‡kqvi Bmy¨ Kivi gva¨‡g Znwej
msMÖn K‡i Ges wewb‡qvMKvix‡`I †kqvi µq-weµ‡qi e¨e¯’v K‡I _v‡K| evsjv‡`‡k `yÕwU ÷K G·‡PÄ i‡q‡Q|
1) XvKv ÷K G·‡PÄ wjwg‡UW
2) PÆMÖvg ÷K G·‡PÄ wjwg‡UW
G `yÕwU ÷K G·‡P‡Ä wewfbœ †Kv¤úvwbi mvaviY †kqvi, wgDPzqvj dvÛ, wW‡eÂvi Ges eÛ BZ¨vw` µq weµq nq|
wewb‡qvM wm×všÍ MÖn‡Yi myweav‡_© ÷K G·‡P‡Ä ZvwjKvfy³ †Kv¤úvwbi †kqvi¸‡jv‡K G,we, wR, Gb Ges †RW
BZ¨vw` †kªwY‡Z wef³ Kiv n‡q‡Q| G `yÕwU ÷K G·‡PćK MwZkxj Kivi Rb¨ cÖwZwôZ n‡q‡Q evsjv‡`k
wmwKDwiwUR GÛ G·‡PÄ Kwgkb|
wb‡P G`yÕwU ÷K G·‡PÄ m¤ú‡K© ms‡¶‡c Av‡jvbv Kiv n‡jv:
1. XvKv ÷K G·‡PÄ: evsjv‡`ki me©c_Ö g I me©e„nr gva¨wgK †kqvievRvi n‡jv XvKv ÷K G·‡PÄ | 1913
mv‡ji †Kv¤úvwbi AvB‡bi AvIZvq GwU GKwU AjvfRbK cÖwZôvb wn‡m‡e 1954 mv‡j wbewÜZ n‡q East
Pakistan Stock Exchange Association Ltd. bv‡g 1956 mv‡j hvÎv ïiæ K‡i| 1962 mv‡j G cÖwZôv‡bi bvg
cwieZ©b K‡i ivLv nq “East Pakistan Stock Exhange Ltd.” Ges 1964 mv‡j Zv cybivq cwiewZ©b K‡i eZ©gvb
XvKv ÷K G·‡PÄ bvg Kib Kiv nq| †`k ¯^vaxb nIqvi c~‡e© 1971 mv‡j XvKv ÷K G·‡P‡Äi ZvwjKvfy³
†Kv¤úvwbi msL¨v wQj 196wU hvi cwi‡kvwaZ gyja‡bi cwigvY wQj 400 (PvikZ) †KvwU UvKv| eZ©gv‡b XvKv ÷K
G·‡P Gi †Kv¤úvwbi msL¨v n‡jv 563 wU | GwU 18 m`m¨ wewkó †evW© Øviv cwiPvwjZ nq| †kqvi µ‡qi
gva¨‡gB ïaygvÎ G cÖwZôv‡bi m`m¨ nIqv hvq Ges †jb‡`‡b AskMÖnY Kiv hvq| mvaviYZ †kqvievRv‡ii MwZ ev
mvwe©K Ae¯’v eySvi Rb¨ m~PK e¨envi Kiv nq| XvKv ÷K G·‡P‡Ä wZbwU m~PK e¨envi nq| ‡hgb:
K. wWGmB eªW m~PK
L. wWGmBGm m~PK Ges

BDwbU mvZ c„ôv-90

 wdb¨vÝ I e¨vswKs

M. wWGmB 30 m~PK
2. PÆMÖvg ÷K G·‡PÄ: †`‡ki wØZxq ÷K G·‡PÄ n‡jv wmGmB| 1695 mv‡ji 10B A‡±vei n‡Z G cÖwZôvbwU
XvKv G·‡P‡Äi b¨vq †Kv¤úvwb AvB‡bi AvIZvq AjvfRbK ms¯’v wn‡m‡e wbewÜZ n‡q (wbeÜK ZvwiL:
1.4.1995) †UªwWs ïiæ K‡i| ïiæ‡Z Gi ZvwjKvfy³ wmwKDwiwU‡Ri msL¨v wQj 30wU Ges cwi‡kvwaZ †kqvi gyjab
I wW‡eÂvimn Gi †gvU gyja‡bi cwigvY wQj 215.4 †KvwU UvKv| GwU XvKv ÷K G·‡P‡Äi g‡Zv 18 m`m¨ wewkó
†evW© Øviv cwiPvwjZ nq| Gi D‡Ïk¨, bxwZ I Kvh©vewj XvKv ÷K G·‡P‡Äi Abyiƒc| 2015 mv‡ji 26 †k
†deªæqvwi Zvwi‡L Gi ZvwjKvfy³ wmwKDwiwUR Gi msL¨v wQj 289 Ges evRvi g~ja‡bi cwigvY wQj 257146.40
†KvwU UvKv| eZ©gv‡b PÆMÖvg ÷K G·‡PÄ Gi †Kv¤úvwbi msL¨v n‡jv 296 wU| XvKv ÷K G·‡P‡Äi g‡Zv GwU‡ZI
wZbwU m~PK e¨envi nq| ‡hgb:
K. wmGmB mKj †kqvig~j¨ m~PK
L. wmGmBG· m~PK
M. wmGmB 30 m~PK
†kqvievRv‡i wewb‡qvM c×wZ
`yÕwU Dcv‡q †kqvi evRv‡i wewb‡qvM Kiv n‡q _v‡K| ‡hgb:
1. cÖv_wgK evRvi (Primary Market) I
2. †m‡KÛvwi evRvi (Secondary Market) Gi gva¨‡g|
1. cÖv_wgK evRvi (Primary Market): GKwU †Kv¤úvwb †h evRv‡i †kqvi wewµi cÖ_g cÖ¯vÍ e (Initial public
offer) K‡i, †m evRvi‡K cÖv_wgK evRvi e‡j| †Kv‡bv †Kv¤úvwb cÖ_g ev‡ii g‡Zv †kqvi wewµ Ki‡j †mwU‡K
†kqvi wewµi cÖ_g cÖ¯Íve e‡j| GKRb wewb‡qvMKvix †Kv‡bv †Kv¤úvwbi †kqvi wewµi cÖ_g cÖ¯vÍ ‡e AskMÖnY K‡i
jUvwii gva¨‡g †kqvi µq Kivi my‡hvM cvq| G evRv‡i GKeviB †kqvi wewµ Kiv nq| A_©vr evi evi †jb‡`b
Kiv nq bv|
2. †m‡KÛvwi evRvi (Secondary Market): GwU GKwU Avw_©K evRvi †hLv‡b cÖv_wgK evRv‡ii gva¨‡g Bym¨K…Z
†kqvi evi evi †jb‡`b nq| A_©vr †h evRv‡i wewb‡qvMKvwiiv wbqwgZ ev evisevi †kqvi µq-weµq Ki‡Z cv‡i
†m evRvi‡K †m‡KÛvwi evRvi ejv nq| †hgb: XvKv ÷K G·‡PÂ I PÆMÖvg ÷K G·‡PÂ BZ¨vw`|

jf¨vsk I jf¨vsk bxwZ

GKwU †Kv¤úvwbi weµq Avq n‡Z F‡Yi my`, Ki, FYc‡Îi my` Ges AMÖvwaKvi †kqv‡ii jf¨vsk ev` †`Iqvi ci
hv Aewkó _v‡K Zv‡K wbU gybvdv e‡j|GB wbU gybvdv jf¨vsk AvKv‡i †kqvi‡nvìv‡`i g‡a¨ e›Ub Kiv nq|
mvaviYZ †Kv¤úvwb AwR©Z gybvdvi m¤ú~Y© Ask †kqvi‡nvìv‡i`‡i g‡a¨ eÈb K‡i bv| Gi wKQy Ask jf¨vsk
AvKv‡i e›Ub Kiv nq Ges wKQz Ask e¨emv‡q †i‡L †`Iqv nq fwel¨‡Z wewb‡qvM K‡i AwaKnv‡i gybvdv AR©‡bi
cÖZ¨vkvq| wbU gybvdvi †h Ask †kqvi gvwjK‡`i g‡a¨ eÈb Kiv nq Zv‡K jf¨vsk (Dividend) ejv nq| Avi †h
Ask e›Ub bv K‡i e¨emv‡q †i‡L †`Iqv nq Zv‡K ‡diZ Avq (Retained Earnings) e‡j|
mvaviYZ jf¨vsk `yBfv‡M fvM Kiv hvq:
1. bM` jf¨vsk (Cash Dividend)
2. ÷K jf¨vsk (Stock Dividend)
1. bM` jf¨vsk (Cash Dividend): wbU gybvdvi †h Ask †kqvi‡nvìvi‡`i g‡a¨ bM` UvKvq e›Ub Kiv nq Zv‡K
bM` jf¨vsk ejv nq| D`vniY¯^iƒc: wWweGBP †Kv¤úvwb wjwg‡UW 15% bM` jf¨vsk †NvlYv K‡i‡Q| G‡ÿ‡Î hw`
GKRb †kqvi‡nvìvi H †Kv¤úvwbi 10 UvKv g~‡j¨i 1000 †kqvi aviY K‡i| Zvn‡j H e¨w³ bM` jf¨vsk wn‡m‡e
(10×1000) × 15% = 1500 UvKv cv‡e|

BDwbU mvZ c„ôv-91

GmGmwm †cÖvMÖvg

2. ÷K jf¨vsk (Stock Dividend): hLb GKwU †Kv¤úvwb bM` jf¨vs‡ki cwie‡Z© ÷K cÖ`vb K‡i ZLb Zv‡K ÷K
jf¨vsk e‡j| mvaviYZ eZ©gv‡b Bmy¨K…Z †kqv‡ii Dci AvbycvwZK nv‡i ÷K jf¨vsk w`‡q _v‡K| d‡j †Kv¤úvwbi
†kqv‡ii msL¨v e„w× cvq| D`vniY¯^iƒc: weGmwm wjwg‡UW eZ©gv‡b 10 UvKv g~‡j¨i 1 †KvwU †kqvi Av‡Q| hw`
†Kv¤úvwb 50 kZvsk ev 2:1 Abycv‡Z ÷K jf¨vsk †NvlYv K‡i| Zvn‡j wewb‡qvMKvixi eZ©gv‡b 1000wU †kqvi
_vK‡j ÷K jf¨vsk cvIqvi ci Zvi †kqv‡ii msL¨v n‡e 1,500wU Ges †Kv¤úvwbi †gvU Bmy¨K…Z †kqvi n‡e 1.5
†KvwU|
jf¨vsk bxwZ
cÖwZwU †Kv¤úvwb‡K cÖwZeQi jf¨vsk msµvšÍ wm×všÍ MÖnY Ki‡Z nq| wbU gybvdvi KZ Ask jf¨vsk AvKv‡i e›Ub
Kiv n‡e Ges KZ Ask e›Ub bv K‡i †i‡L †`Iqv n‡e, bM` jf¨vsk bv ÷K ‡`Iqv n‡e BZ¨vw` wel‡q wm×všÍ
MÖnY Ki‡Z nq| GKwU †Kv¤úvwbi jf¨vsk e›Ub msµvšÍ bxwZgvjv‡K jf¨vsk bxwZ e‡j|
mvaviYZ jf¨vsk bxwZ wZb cÖKvi n‡q _v‡K| †hgb:
1. w¯’wZkxj UvKv jf¨vsk bxwZ : G bxwZ Abyhvqx cÖwZeQi AwR©Z gybvdv n‡Z mgcwigvY UvKv jf¨vsk †`qv nq|
D`vniY¯^iƒc: hw` GwmAvBdig~jv †Kv¤úvwb wjwg‡UW cÖwZeQi †kqvicÖwZ 5 UvKv jf¨vsk ‡`q Zvn‡j GwU‡K
w¯’wZkxj jf¨vsk bxwZ ejv n‡e| G bxwZ Abyhvqx †kqvicÖwZ Avq e„w× †c‡jI weMZ eQi¸‡jv‡Z cÖ`Ë jf¨vs‡ki
mgcwigvY jf¨vsk cÖ`vb Kiv nq| mvaviYZ G c×wZ‡Z jf¨vs‡ki cwigvY K‡g bv|
2. jf¨vsk cÖ`vb AbycvZ bxwZ: G bxwZ Abyhvqx †Kv¤úvwb cÖwZeQi Av‡qi KZ Ask jf¨vsk cÖ`vb Ki‡e Zv
wba©vib Kiv nq| G bxwZ Abymv‡i †Kv¤úvwb cÖwZeQi AvbycvwZK nv‡i jf¨vsk cÖ`vb K‡i _v‡K| D`vniY¯^iƒc, hw`
GKwU †Kv¤úvwb 50% jf¨vsk cÖ`v‡bi AvbycvwZK nvi wba©viY K‡i| Zvn‡j hw` †Kv¤úvwbi AwR©Z Avq 4 †KvwU
UvKv nq, Zvn‡j jf¨vsk wn‡m‡e †kqvi gvwjK‡`i 4 †KvwU × 50% ev 2 †KvwU UvKv cÖ`vb Kiv n‡e|
3. w¯’i jf¨vsk mv‡_ AwZwi³ jf¨vsk bxwZ: †hme †Kv¤úvwbi Avq w¯’wZkxj ev wbqwgZ bq, †mme †Kv¤úvwbi Rb¨
GwU GKwU Av`k© jf¨vsk bxwZ| G bxwZ Abyhvqx †Kv¤úvwb cÖwZeQi b~¨bZg w¯’wZkxj jf¨vs‡ki mv‡_ AwZwi³
jf¨vsk cÖ`vb K‡i| Ab¨vb¨ jf¨vsk bxwZi Zzjbvq GwU A‡bK bgbxq weavq A‡bK †Kv¤úvwb GB jf¨vsk bxwZ
AbymiY K‡i|
evsjv‡`‡ki †kqvi evRvi Ges †kqvi evRv‡i wewb‡qvM c×wZ cvkvcvwk
wk¶v_©xi KvR jf¨vsk bxwZ mg~n m¤ú‡K© AwR©Z Ávb hvPvB K‡i Zzwg ‡Zvgvi wkLYKvh©wU
SvjvB K‡i †bI|

mvims‡¶c :
†kqvievRvi‡K g~jab evRvi ejv nq| evsjv‡`‡k `yÕwU ÷K G·‡PÄ i‡q‡Q| h_v: 1. XvKv ÷K G·‡PÄ
wjwg‡UW I 2. PÆMÖvg ÷K G·‡PÄ wjwg‡UW| `yÕwU Dcv‡q †kqvi evRv‡i wewb‡qvM Kiv n‡q _v‡K| ‡hgb:
cÖv_wgK evRvi (Primary Market): GKwU †Kv¤úvwb †h evRv‡i †kqvi wewµi cÖ_g cÖ¯vÍ e (Initial public offer)
K‡i, †m evRvi‡K cÖv_wgK evRvi e‡j I †m‡KÛvwi evRvi (Secondary Market): †h evRv‡i wewb‡qvMKvwiiv
wbqwgZ ev evisevi †kqvi µq-weµq Ki‡Z cv‡i †m evRvi‡K †m‡KÛvwi evRvi ejv nq| wbU gybvdvi †h Ask
†kqvi gvwjK‡`i g‡a¨ eÈb Kiv nq Zv‡K jf¨vsk (Dividend) ejv nq|

BDwbU mvZ c„ôv-92

 wdb¨vÝ I e¨vswKs

cv‡VvËi g~j¨vqb-7.3

mwVK Dˇii cv‡k wUK (√ √) wPý w`b|

1| AMÖvwaKvi †kqvi gvwjK‡`i Amyweav †KvbwU?
K. wbw`©ó nv‡i Avq L. mxgve× `vq
M. Amxg Avq N. gybvdvi Dci AMÖvwaKvi
2| wbU gybvdvi GKwU Ask hLb †kqvi‡nvìvi‡`i g‡a¨ bM` AvKv‡i e›Ub Kiv nq Zv‡K wK e‡j?
K. †evbvm jf¨vsk L. ÷K jf¨vsk
M. bM` jf¨vsk N. ivBU †kqvi
3| wb‡Pi †Kvb bxwZ Abyhvqx cÖwZeQi AvbycvwZK nv‡i jf¨vsk cÖ`vb Kiv nq?
K. w¯’wZkxj UvKv jf¨vsk bxwZ L. AbycvZ jf¨vsk bxwZ
M. w¯’i jf¨vsk bxwZ N. w¯’i jf¨vsk mv‡_ AwZwi³ jf¨vsk bxwZ
wb‡Pi DÏxcKwU c‡o 4 I 5 b¤^i cÖ‡kœi DËi `vI
Rbve dviæK b~ivbx WvBs †Kv¤úvwbi cÖ_gev‡ii g‡Zv †kqvi wewµi cÖ¯Íve †`‡L AvK…ó n‡q Zv µq K‡ib| K‡qK
eQi ci Zvi A‡_©i cÖ‡qvRb †`Lv w`‡j wZwb Zv wewµ Ki‡Z evRv‡i †h‡Z Pv‡”Qb|
4| Rbve dviæK b~ivbx WvBs †Kv¤úvwbi †kqvi †Kv_vq n‡Z msMÖn K‡i‡Qb?
K. †m‡KÛvwi evRvi L. cÖv_wgK evRvi
M. wmwKDwiwUR GÛ G·‡PÄ Kwgkb N. †Kv¤úvwbi cÖavb Awdm
5| †kqvi wewµi Rb¨ Rbve dviæ‡Ki †Kvb evRvi hyw³m½Z n‡e?
K. †Kv¤úvwbi cÖavb Awdm L. wmwKDwiwUR GÛ G·‡PÄ Kwgkb
M. †m‡KÛvwi evRvi N. cÖv_wgK evRvi

P~ovšÍ g~j¨vqb
DËi ms‡¶c
K. Ávbg~jK cÖkœ
1. ‡kqvi Kx?
2. eÛ Kx?
3. AMÖvwaKvi †kqvi Kx?
4. wW‡eÂvi Kx?
5. cÖv_wgK evRvi Kx?
6. †m‡KÛvix evRvi Kx?

L. Abyavebg~jK cÖkœ
1. †Kvb jf¨vsk bxwZ‡Z AvbycvwZK nv‡i jf¨vsk cÖ`vb Kiv nq?
2. gybvdvi GKwU Ask fwel¨‡Z e¨emv‡qi †Kvb ai‡bi Kv‡Ri Rb¨ msiw¶Z _v‡K?
3. †kqvievRv‡ii mvwe©K Ae¯’v †evSvi Rb¨ Kx e¨envi Kiv nq?
4. †kqvievRvi †h‡Kv‡bv †`‡ki A_©bxwZ‡Z †Kvb ai‡bi evRvi wnmv‡e f~wgKv iv‡L?

BDwbU mvZ c„ôv-93

GmGmwm †cÖvMÖvg

m„Rbkxj cÖkœ
1| Rbve wgRvb miKvwi PvKwi †_‡K AemiMÖn‡Yi ci lvU j¶ UvKv nv‡Z cvb| wZwb GB A_© †Kvb GKwU
†Kv¤úvwb‡Z wewb‡qvM Ki‡Z AvMÖnx| wZwb Ggb GKRb wewb‡qvMKvix n‡Z Pvb †hb Zv‡K my` †c‡Z bv nq Ges
†Kv¤úvwbi ¸iæZ¡c~Y© wm×všÍ MÖn‡Y AskMÖnY Ki‡Z cv‡ib| ZvB wZwb ÔwWweGBPÕ I ÔGwmAvBÕ †Kv¤úvwbi wewfbœ
Kvh©µ‡gi Z_¨ msMÖn K‡i Zv we‡kølY Ki‡Z ïiæ K‡i‡Qb|
K. wW‡eÂvi ej‡Z Kx ey‡Sb?
L. †Kvb ai‡bi jf¨vsk cÖ`vb Ki‡j †Kv¤úvwbi †kqv‡ii msL¨v e„w× cv‡e? e¨vL¨v Kiæb|
M. Rbve wgRvb ÔwWweGBPÕ I ÔGwmAvBÕ †Kv¤úvwbi †Kvb Z_¨ we‡kølY Ki‡Qb? e¨vL¨v Kiæb
N. †Kvb ai‡bi wewb‡qvMKvix nIqv Rbve wgRv‡bi Rb¨ hyw³hy³ n‡e e‡j Zzwg g‡b Ki? we‡kølY Kiæb|
2| b~ivbx WvBs †Kv¤úvwb Zv‡`i Rwg Rbve Bmjv‡gi wbKU RvgvbZ wn‡m‡e †i‡L 5 †KvwU UvKv FY g~jab msMÖn
K‡i| Rbve Bmjv‡gi mv‡_ †Kv¤úvwbi †h Pzw³ n‡q‡Q Zv‡Z A_© †diZ cvIqvi ZvwiL 2017 mv‡j 1 Rvbyqvwi
D‡jøL Av‡Q| nVvr †Kv¤úvwbwU 2016 mv‡ji Ryb gv‡m wejyß n‡e e‡j †NvlYv Av‡m| Zv‡Z wZwb wePwjZ nbwb|
K. †kqvi gvwjK‡`i cÖvc¨ Avq Kx?
L. †hme †Kv¤úvwbi Avq w¯’wZkxj, Zviv †Kb w¯’i jf¨vs‡ki mv‡_ AwZwi³ bxwZ AbymiY K‡i? e¨vL¨v
Kiæb|
M. b~ivbx WvBs †Kv¤úvwb A_©vq‡bi Rb¨ †Kvb †KŠkjwU †e‡Q wb‡q‡Q? e¨vL¨v Kiæb|
N. b~ivbx WvBs †Kv¤úvwb wejyß nIqv ev bv nIqv Dfq †¶‡Î Rbve Bmjv‡gi wewb‡qv‡Mi wbivcËvwU g~j¨vqb
Kiæb|

DËigvjv
cv‡VvËi g~j¨vqb- 7.1 : 1. K 2. L 3. M
cv‡VvËi g~j¨vqb- 7.2 : 1. K 2. L 3. N
cv‡VvËi g~j¨vqb- 7.3 : 1. K 2. M 3. L 4. L 5. M

BDwbU mvZ c„ôv-94