India's G-secs one of most developed among emerging markets, says RBI

The central bank study says secondary market volume needs to improve

India’s government securities markets is one of the most sophisticated in Asia, and is the largest after China and Malaysia, according to a Reserve Bank of India (RBI) study, but the secondary market volume needs to improve.

But the same cannot be said about corporate bonds, which is severely relatively underdeveloped, but is slowly improving leaning on the government debt market.

According to the study, in comparison to Asian peers, the maturity profile of outstanding Indian government debt is more uniformly distributed across short (less than 5 years), medium (5 to 10 years) and long (above 10 years) tenors, allowing investors the