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The coming turmoil in the capital markets

In part one of a series, the author says the capital markets and the securities ecosystem have remained broadly untouched by the progress in India's payment infrastructure

Rajiv Shastri 

Rajiv Shastri

No, this isn’t an article about where the equity or debt markets are headed in term of valuation and returns. It’s about a bigger turmoil which will render many market institutions and participants redundant.

Recent years have seen fantastic progress in India’s payment ecosystem. First with the real time gross settlement (RTGS) and then with the national electronic funds transfer (NEFT), transferring money from one bank account to another became a breeze during market hours. The role of instruments issued by one’s bank, indeed that of the bank itself, reduced sharply ...

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First Published: Sun, March 15 2020. 21:43 IST
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