Assertion (A) : The term capital market refers to the facilities and institutional arrangements through which long-term funds, both debt and equity are raised and invested.
Reason (R) : The capital market consists of development banks, commercial banks and stock exchanges.
Select the correct answer.
Both (A) and (R) are true and (R) is the correct explanation of (A).
Both (A) and (R) are true and (R) is not the correct explanation of (A).
(A) is true, but (R) is false.
(A) is false, but (R) is true.
