SEBI Chairman stresses on need to form BRICS Nations Bond Markets

27 September, Mumbai

SEBI Chairman U K Sinha Tuesday stressed on the need to form BRICS Nations Bond Markets in the lines of BRICS Development Bank. He was addressing a one-day BRICS Seminar that began in Mumbai Tuesday.

Sinha noted that a lot of positive developments have happened in the financial sector in the last 2 years and hoped that there is a scope for further deepening of Indian corporate bond market. He also elaborated various initiatives of Central government including recently passed Insolvency and bankruptcies act and other steps taken by SEBI and RBI.

Sinha suggested that BRICS nations can start learning from each other’s experience. He also said that there is consensus among BRICS nations to work together which will be beneficial for all participating nations.

Ajay Tyagi, Addl Secretary, Department of Economic Affairs and Janmejaya Sinha from CII were also present on the occasion.

Union Finance Minister Arun Jaitley will deliver the valedictory address in the afternoon session. He will also address a session on ways to develop the corporate bond market and possibilities of sharing the best practices followed by BRICS countries.

The Seminar jointly organized by the Department of Economic affairs and CII is scheduled to focus on ways to collaborate in development of corporate bond market, steps for revitalizing local currency bond markets and development of off-shore local currency bond markets among others.

Experts from Brazil, Russia, India, China and South Africa, World Bank, JICA and OECD are participating in the seminar.