capital market is a financial market where long-term or equity-backed securities are bought and sold. It Government Bonds - In India, fall under the broad of government securities (G-Sec) and are long term investment tools issued for periods from 5 to 40 years. It can be issued by both and State governments of India. Capital market refers to a broad spectrum of assets that includes the stock market as well other venues for trading different financial products. bills are money market instruments issued by Government of India and call money market is an part of the Indian Money Market, where the surplus funds (mostly of banks) are traded.