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Indian debt capital markets: No need to panic, but it is time to act

Updated : September 24, 2018 09:13 AM IST

In recent times, Indian debt capital markets have gone through a period of complacent, near-exuberant growth.
Given the size of the capital market, and the failure of the market to develop secondary market and repo volumes, we do need a formal lender of last resort mechanism.
More immediately, the valuation mechanism of corporate bonds is flawed, particularly for select illiquid paper.
Indian debt capital markets: No need  to panic, but it is time to act

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