How Was Wall Street Named?

How Was Wall Street Named?

Did you know that NYSE was founded on this day 229 years ago? Located on the Wall Street, NYSE is the biggest stock exchange in the world. Well, the Wall Street needs to introduction but have you ever wondered how the street which went on to become the equivalent to the financial markets of the world was named? Read the story to find out!

Crux of the Matter

NYSE Formation Day
NYSE was founded on May 17, 1792. Also known as the ‘Big Board’, it is the world’s largest stock exchange. It is located on Wall Street, Lower Manhattan, NYC, US. But do you know how was Wall Street named?

Why Wall Street?
Wall Street was originally named “de Waalstraat” as it was a Dutch territory and a part of the then New Amsterdam. Dutch settlers had build a literal defensive wall to protect themselves from British, Native Americans and pirates. However, the 12 foot wall was demolished by the British Colonial Government in 1699.

Wall Street was New York City’s official slave trading marketplace. In late 17th century, it was also a trading spot for merchants to buy and sell stocks and bonds. Major trading happened under the Buttonwood tree situated at the foot of Wall Street. This led to the formation of the Buttonwood agreement.

The Buttonwood Agreement
In 1792, 24 foremost brokers of US signed the agreement which prescribed the commission based form of trading. Initial trades were conducted in War bonds, Bank of New York, Bank of North America, etc.

NYSE And Wall Street
In 1817, the Buttonwoods organization was revised. They named it the New York Stock and Exchange Board. In 1863, it was renamed New York Stock Exchange. Since then Wall Street is synonymous to the US markets.

  •  In the 2012 film The Dark Knight Rises, the villain Bane destroys the Gotham City Stock Exchange. The J.P. Morgan Building on Wall Street and Broad Street were used to film scenes in and near the New York Stock Exchange.
  • The opening bell at the New York Stock Exchange is rung at 9:30 am ET and the closing bell at 4 pm ET. Several fictional characters like Mickey Mouse, the Pink Panther, Mr. Potato Head, and Darth Vader have rung the bell.
  • Established in 1903, the main New York Stock Exchange Building is located at 18 Broad Street, between Wall Street and Exchange Place, and was designed by George B. Post in the Beaux-Arts style. In 1978, the structure was listed as a National Historic Landmark.

The Growth Story Of Groww

The Growth Story Of Groww

In a deal worth ₹175 crores, the 4-year old Groww will acquire Indiabulls’ 14 year old Mutual Fund business. With this, Groww will become one of the few fintech companies in India to have its own asset management business. In such short span, Groww’s growth story has been phenomenal. Read the story to know how 4 flipkart employees found the gap in Indian financial services and went on to build a unicorn.

Crux of the Matter

Founding Fathers
4 Flipkart employees, with an aim of making investing in India simple, left their jobs in 2016 to start their very own venture, Groww!

Founding Members:

  • Lalit Keshre– CEO
  • Neeraj Singh– CTO
  • Ishan Bansal– CFO
  • Harsh Jain– COO

The Common Ground

  • The founders believed that the process of investing in financial products was too complex in India.
  • In 2016, while India dwelled 200 million of people with investable income, only 20 million of the bunch invested actively.
  • The idea was to bring the rest 90% of the group on Groww’s platform by simplifying the investment.
  • Groww focused on availing the best customer experience. Multiple experiments were carried out to get the user experience right.
  • Reason? To make investing possible even for someone who’s just starting out.
  • Money is one of the important risk factors in investing. Thus, safety and security embedded in simplicity was what Groww wanted to provide.


Major Investors

  • Tiger Global Management
  • Sequoia Capital India
  • Ribbit Capital
  • Y Combinator
  • Propel Venture Partners
  • Insignia Ventures partners

    Seed Funding was raised from CureFit founders Mukesh Bansal and Ankit Nagori along with Y Combinator.

Road Ahead
Groww plans to expand its financial services via launching:

  • Deposits
  • US Stocks
  • Sovereign Gold Bonds
  • Derivative Products

    By 2023, Groww plans to venture in financial education programs for millennials.

  • Zerodha is a combination of ‘zero’ and ‘rodha’ (barrier) meaning zero barriers. India’s largest stockbroker, Zerodha was founded by Nithin Kamath and Nikhil Kamath in 2010.
  • Groww over time has received investments from investors around the world like Ribbit Capital, Sequoia, Y combinator, and Kauffman Fellows. It has raised nearly $21.4M from these Investors.
  • The 29-storey Phiroze Jeejeebhoy Towers houses the Bombay Stock Exchange. The building is named after the former Chairman of BSE, Phiroze Jamshedji Jeejeebhoy.

Role of Economics In Capitalism And Socialism

Role of Economics In Capitalism And Socialism

An economic system decides how resources are used to produce goods and services and how they’ll further be allocated to the individuals in the society. The two most prevalent economic systems are capitalism and socialism. But what exactly is different between these? And what type of economy is India? Read the story to find out.

Crux of the Matter

Capitalist Economy
Capitalist economy is widely known as market economy and is driven by the ‘free market’ approach. It functions on the basis of supply and demand laws.

Socialist Economy
Much closer to the communist school of thought, in a socialist economy the government has significant control over economic activity.

Know the Difference
Let us know the difference between capitalism and socialism:

Resource Ownership:

  • Capitalism – Private individuals or businesses can own the resources and factors of production.
  • Socialism – Government or state owns the resources and factors of production.

Price Determination:

  • Capitalism: It is based on supply and demand and little to no coercion for setting fixed prices.
  • Socialism: Government controls pricing of goods and services.


  • Capitalism: There are incentives for innovation and efficient development.
  • Socialism: It aims at an equitable distribution of scarce resources by ‘redistributing income from rich to poor.


  • Capitalism: Market failure may lead to societal inequality with rise of monopolistic practices.
  • Socialism: Might not result in optimum utilization of available resources in case of inefficient functioning of the government.

Communist V/S Socialist Economy

  • In Communist economy, individuals own no personal assets. While in Socialist economy, individuals can own private assets to a certain extent.
  • In Communist economy, government distributes wealth as per the needs of a person. While in Socialist economy, government distributes wealth as per the contribution of an individual.

Interesting Arguments
Pro Capitalists argue that effective usage of a worker’s productivity is not exploitation but rather maximum utilization of resources. However, Pro Socialists argue that in face of resource utilization, the humanitarian ground is often compromised.

Which Economic System Is Followed By India
Mixed Economic System is followed by India. It captures the traits of both capitalist and socialist economy. Here, both private and government firms co-exist and while the purpose of the former is to maximize profits, government firms aim at welfare of people.

India has a free trade and commerce system which comes under capitalist economy. On the other hand, government implements and regulates the pricing and resource distribution to some extent making it a socialist economy.

  • Nirmala Sitharaman is India’s first full-time female finance minister. She presented the budget in the Indian parliament for the first time on 5 July, 2019.
  • John Maynard Keynes, Harry Dexter White in July, 1944, founded the World Bank. Currently, 189 countries are a part of the International Bank for Reconstruction and Development.
  • The USA has the largest share in the world economy with a nominal GDP of $20.81 trillion. India stands at the 6th position with a GDP of $2.59 trillion.

Story Of TVF, The Pioneers of Web Series In India

The web series TVF Aspirants has been in headlines for its relatable content and execution. The YouTube chanel TVF has released some binge-worthy series in the past as well. Did you know that The Viral Fever (TVF) is considered to be the pioneer of web series in India? Let us find out a bit more about them.

Crux of the Matter

When Was It Founded?
The Viral Fever (TVF), an Indian YouTube channel was started in 2010 by TVF Media Labs. The founder of TVF is Arunabh Kumar. It is currently owned by Contagious Online Media Pvt. Ltd. and at present has 9.6 mn subscribers.

First Original Show

  • In Feb 2012, the channel released its first original show titled ‘Rowdies 9– Sab Q-tiyappa hai!’.
  • The show was a spoof of the famous show Roadies aired on MTV.
  • The video crossed over 1 million views within 5 days of its release.

Web Series’ By The Channel

  • The first web series by the channel ‘Permanent Roommates‘ in Oct 2014. It became the second most viewed long-term web series in the world by 2015.
  • The second series was ‘Pitchers’ released in June 2015.  
  • Some other famous web series include Bachelors, Fathers, Kota Factory, Panchayat.

TVF’s Own Platform

  • In 2015, TVF launched its own online streaming platform called TVFPlay.
  • The last 2 episodes of Pitchers were launched there and crossed 10 lakh hits within 2 days.
  • The traffic due to these episodes had also crashed the platform for around 3 hours.
  • In 2016, Tiger Global Management invested $10 mn in TVFPlay and till May 2019, total $21 million had been invested.


  • Arunabh Kumar, the founder of TVF was accused of sexual harassment in March 2017.
  • The claim was made anonymously via Medium after which several other women also came forward.
  • On 16th June, 2017, Arunabh Kumar stepped down from the post of the CEO.
  • The position was then taken by Dhawal Gusain.

Launch Of Other Youtube Channels

TVF’s Aspirants

  • Aspirants is the latest web series rolled out by the channel.
  • The show is based on the lives of UPSC aspirants and their struggles.
  • Like its other series, this one has also gone viral and is garnering a lot of praise.

  • The Chief Content Officer and Head of The Viral Fever Originals, Sameer Saxena was a jury member of the 46th International Emmy Awards. He is the creator and director of web-series like “Permanent Roommates”, “TVF Tripling” and”Yeh Meri Family”.
  • Arunabh Kumar, the founder of TVF initially joined Red Chillies Entertainment and worked as an assistant under Farah Khan. He was the Assistant Director of Om Shanti Om.
  • As of 14th May 2021, TVF has 9.68 million subscribers. Bhuvan Bam is more commonly known by the name of his youtube channel “BB Ki Vines” is the first Indian individual to cross 10 million subscribers on youtube. 

Stock Market Orders That You Should Know About

Stock Market Orders That You Should Know About

“Market Buy Order, Intraday Square off, Limit Sell off, Stop Loss”… While we must have heard these terms quite often, we might not know what exactly do they mean. Well, every trader should be aware of these orders to properly trade in the market. Most importantly, they help in adverse situations like a market crash when your stocks might be suffering losses. How? Let’s find out.⁣

Crux of the Matter

Wait, What is an Order Though?
An order is an instruction to buy or sell stocks, bonds, commodities, derivatives, etc. It can be executed either through a
trading platform or via stock broker.

1. Market Order
It is used for buying or selling of a security at Current Market Prices. The order is executed immediately but the price at which it is executed cannot be guaranteed.

Say, you want to buy a stock of Dabur India at current market price (CMP) of ₹525. Owing to market volatility, its share price changes every second. By the time you order the ₹525 stock, the price might have changed to ₹525.25 or ₹524.75. Given that Dabur India is a liquid stock, the order will be executed at value closer to the CMP.

2. Limit Order
It is used for buying or selling of a security at a specific price or better than that. Your order will not be executed if the stock price does not reach the set limit value. Limit orders automate the trading to an extent and thus negate the need to follow the stock trend every second.

Buy Limit Order: The CMP of ICICI Bank is ₹615. You wish to buy the stock at ₹605 and hence, you place the buy limit
order of ₹605. Now, when the share price hits ₹605 or below, your order will be executed.
Sell Limit Order: Now you wish to sell the stock at ₹630 and hence, you place the sell limit order of ₹630. Your order will be placed whenever the stock price hits ₹630 or above it.

3. Stop Loss Order
It is used for buying or selling of a security once it reaches a specified price, known as stop price. Once the stop price level is achieved, stop loss order becomes market order and is thus immediately executed. Stop Loss order can limit our losses, without the need of tracking the stock.

Sell Stop Order: Say, you have bought a stock of HCL Tech at CMP of ₹915. You profit from rise in price, but what if the stock price goes down, resulting into a loss? In such cases, you can enter a sell stop order, say at ₹900. Once the stock price hits ₹900, the order will be triggered and executed. This helps in limiting the losses without having to constantly monitor the stock.

Margin Intraday Square Off Order (MIS)
It is used for orders that are placed under MIS and are to be squared off (completed) during a single trading day. Open orders will be automatically executed by the system by 3:00 PM. MIS orders are primarily used to avail leverage – borrowing money to place a trade. Thus, you pay only a fraction amount of the total trading value while placing MIS order.

  • The first company in history to issue bonds and shares of stock to the general public was the Dutch East India Company. The first stock exchange to introduce continuous trade in the early 17th century was the Dutch Stock Exchange.
  • As of 10th May 2021, Apple (APPL) has the largest market cap in the world at $2.173 trillion. Berkshire Hathaway has the highest stock price of $4,37,131.00.
  • The USA has the largest market share of total world equity at 55.9%. The world’s largest stock exchange is the New York Stock Exchange(NYSE).