Formed in 1985, South Asian Association for Regional Cooperation (SAARC) emerges as a significant region in the world in terms of economic and political system. As the flow of capital from all around the world comes into the developing and under-developed economies, SAARC nations are becoming the cynosure for global investors. This leads to an increased interest of the world in the stock markets of SAARC nations. The stock markets of SAARC countries, transforming from low to medium and high growth trajectory, are supposed to yield better rewards than the developed economies stock markets....

The problems of the South Asian region are different from those in the developed world. The region is characterised by rapidly changing socioeconomic scenario, fast-increasing urbanization and longevity, changes in dietary patterns and decrease in mortality from infectious diseases. Drought, cyclones, floods, rural poverty and deprivation push rural population to flock to cities. Therefore, urbanization can be viewed as a consequence of these factors rather than the result of economic growth. This leads to environmental degradation, poverty and growth of urban slums. Rapidly growing...