[1] Abidin, S., Walters, C., Lim, K. L., & Banchit, A. (2013). Cointegration between stock prices and exchange rates in Asia-Pacific countries. Investment management and financial innovations, (10, Iss. 2 (contin.)), 142-146.

[2] Acikalin, S., Aktas, R., & Unal, S. (2008). Relationships between stock markets and macroeconomic variables: an empirical analysis of the Istanbul Stock Exchange. Investment Management and Financial Innovations, 5(1), 8-16.

[3] Al-Majali, A. A., & Al-Assaf, G. I. (2014). Long-run and short-run relationship between stock market index and main macroeconomic variables performance in Jordan. European Scientific Journal, 10(10).

[4] Ballester, L., Ferrer, R., Gonzales, C., & Soto, G. M. (2009). Determinants of interest rate exposure of Spanish banking industry. Department of Economics and Finance Working Papers DT-DAEF, 1.

[5] Banerjee, A.V. 2005. “Bank Competition in India.” Working paper, Stanford Center for International Development, Stanford University, Stanford, CA.

[6] Benston, G. J. (2004). What's special about banks?. Financial Review, 39(1), 13-33.



[7] Berganza, J. C., & Broto, C. (2012). Flexible inflation targets, forex interventions and exchange rate volatility in emerging countries. Journal of International Money and finance, 31(2), 428-444.

[8] Chakrabarti, R. 2005. “Banking in India—Reforms and Reorganization.” Working paper, Indian School of Business, Hyderabad, India, January 17.

[9] Chen, N. F., Roll, R., & Ross, S. A. (1986). Economic forces and the stock market. Journal of business, 383-403.

[10] Fama, E. F. (1970). Efficient capital markets: A review of theory and empirical work. The journal of Finance, 25(2), 383-417.

[11] Ghosh, S. 2011. “Does Activity Mix and Funding Strategy Vary Across Ownership? Evidence from Indian Banks.” Atlantic Review of Economics 1: 1–33.

[12] Golder, U., Islam, M. N., & Kayser, M. S. (2020). Impact of Foreign Exchange Reserve, Exchange Rate and Crude Oil Price on Dhaka Stock Exchange Index: An Empirical Evidence from Vector Error Correction Model. Indian Journal of Finance and Banking, 4(1), 134-143.

[13] Gupta, N., & Kumar, A. (2019). Dynamic Relationship Between Stock Market Sector Indices and Macroeconomic Variables in India. International Journal of Applied Management Theory and Research (IJAMTR), 1(2), 31-41.

[14] Miller, S. M., & Russek, F. S. (1991). The temporal causality between fiscal deficits and interest rates. Contemporary Economic Policy, 9(3), 12-23.

[15] Naseem, S., Fu, G. L., ThaiLan, V., Mohsin, M., & Zia-Ur-Rehman, M. (2019). Macroeconomic Variables and the Pakistan Stock Market: Exploring Long and Short run Relationship. Pacific Business Review International, 11(7), 621-72.

[16] Nieh, C. C., & Lee, C. F. (2001). Dynamic relationship between stock prices and exchange rates for G-7 countries. The Quarterly Review of Economics and Finance, 41(4), 477-490.

[17] Nkechukwu, G., Onyeagba, J., & Okoh, J. (2013). Macroeconomic variables and stock market prices in Nigeria: A co-integration and vector error correction model tests. International Journal of Science and Research (IJSR), 4(6), 717-724.

[18] Prasad, A., and S. Ghosh. 2007. “Competition in Indian Banking: An Empirical Evaluation.” South Asia Economic Journal 8, no. 2: 265–284.

[19] Rahman, M. L., & Uddin, J. (2009). Dynamic relationship between stock prices and exchange rates: Evidence from three South Asian countries. International Business Research, 2(2), 167-174.

[20] Ray, S. (2012). Foreign exchange reserve and its impact on stock market capitalization: Evidence from India. Research on Humanities and Social Sciences, 2(2), 46-60.

[21] Ross, S. A. (1976). The arbitrage theory of capital asset pricing.Journal of Economic Theory,13(3),341-360

[22] Ross, S. A. (2013). The arbitrage theory of capital asset pricing. In Handbook of the fundamentals of financial decision making, Part I, 11-30.

[23] Santoni, G. J. (1986). The effects of inflation on commercial banks. Federal Reserve Bank of St. Louis Review, 68(3), 15-26.

[24] Suciningtias, S. A. (2019). Macroeconomic Impacts on Sukuk Performance in Indonesia: Co-integration and Vector Error Correction Model Approach. Journal of Islamic Finance, 8, 117-130.

[25] Tripathi, L. K., Parashar, A., & Jaiswal, S. (2014). Impact of Macroeconomic Variables on Sector indices in India. Pacific Business Review International, 6(12), 2–42.

[26] Vardar, G., Aksoy, G., & Can, E. (2008). Effects of interest and exchange rate on volatility and return of sector price indices at Istanbul stock exchange. European Journal of Economics, 11, 126-35.

[27] https://www.sebi.gov.in/statistics/mutual-fund/deployment-of-funds-by-all-mutual-funds.html#