Developing India's Corporate Bond Market

A well-developed corporate bond market is essential for the efficiency and stability of a country's financial system and the overall growth of its economy. Issuers and investors' access to the market provides for financial diversification and facilitates necessary financing, which benefits not only AAA-rated corporations but also less well known, sub-investment grade corporations and infrastructure developers. This note examines the state of India's corporate bond market, identifies constraints that inhibit its size and depth, and suggests reform measures that India needs to take to develop its market into a competitive source of financing for a wide range of issuers and an attractive investment for a wide range of investors. Recommendations are based not only on an assessment of conditions in India, but also on relevant international experience.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2006-12
Subjects:	ACCOUNTING, AUCTION, BALANCE SHEETS, BANK FOR INTERNATIONAL SETTLEMENTS, BANK LENDING, BANK REGULATIONS, BANKING CRISES, BANKING SECTOR, BANKING SYSTEM, BANKRUPTCY, BANKRUPTCY LAWS, BANKS, BOND DEBT, BOND ISSUES, BOND MARKET, BOND MARKETS, BONDS, BORROWING, CAPITAL FLOWS, CAPITAL MARKETS, CAPITAL REQUIREMENTS, CAPITALIZATION, COMMERCIAL BANKS, COMPANY, CORPORATE BONDS, CORPORATE DEBT, CORPORATE FINANCE, CORPORATE GOVERNANCE, CORPORATE PERFORMANCE, CORPORATION, CORPORATIONS, CREDIT RATING, CREDIT RATING AGENCIES, CREDIT RATINGS, CREDIT RISK, DEBT, DEBT INSTRUMENTS, DERIVATIVES, DISCLOSURE OF INFORMATION, DIVERSIFICATION, ECONOMIC GROWTH, EMERGING MARKET, EMERGING MARKETS, EQUITY CAPITAL, EXPANSION, FAIR, FINANCIAL ASSETS, FINANCIAL INFORMATION, FINANCIAL INSTITUTIONS, FINANCIAL INSTRUMENTS, FINANCIAL MARKETS, FINANCIAL STABILITY, FINANCIAL SYSTEMS, FIRMS, FOREIGN ASSETS, FOREIGN EXCHANGE, GROSS DOMESTIC PRODUCT, INFRASTRUCTURE FINANCING, INSURANCE, INSURANCE COMPANIES, INSURERS, INTEREST RATES, INVESTMENT IN INFRASTRUCTURE, LATIN AMERICAN, LAWS, LEGISLATION, LIFE INSURANCE, LIFE INSURANCE COMPANIES, LIQUIDITY, MACROECONOMIC STABILITY, MARKET ACCESS, MARKET DEVELOPMENT, MARKET DISCIPLINE, MARKET MICROSTRUCTURE, MARKET REFORM, MARKET REFORMS, MATURITIES, MONETARY POLICY, MONEY MARKET, MUTUAL FUNDS, NON-LIFE INSURANCE, OFFERINGS, PENSION FUNDS, PENSIONS, PORTFOLIOS, PRICING MECHANISM, PRIVATE PENSION FUNDS, PRIVATE SECTOR DEVELOPMENT, PROVIDENT FUNDS, RATING AGENCIES, REGULATORY FRAMEWORK, REGULATORY FRAMEWORKS, REGULATORY REGIME, RESERVE BANK OF INDIA, RESOURCE MOBILIZATION, RETAIL, RISK MANAGEMENT, RISK SHARING, SAVINGS, SECURITIES, SECURITIES MARKETS, SECURITIES TRADING, SECURITIZATION, SETTLEMENT RISKS, SETTLEMENT SYSTEMS, SPONSORS, STOCK EXCHANGES, SYSTEMIC RISK, TAXATION, TRANSPARENCY, TURNOVER,
Online Access:	http://documents.worldbank.org/curated/en/2006/12/7483305/developing-indias-corporate-bond-market https://hdl.handle.net/10986/19625
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