Number of Steps Envisaged to Deepen The Indian Financial Market

The Government has envisaged number of steps to deepen the Indian Financial markets. Presenting the Interim Budget 2014-15, the Union Finance Minister Shri P. Chidambaram outlined the steps as below:

·         To comprehensively revamp the ADR/GDR scheme and enlarge the scope of Depository Receipts;

·         To liberalise the rupee-denominated corporate bond market;

·         To deepen and strengthen the currency derivatives market to enable Indian companies to fully hedge against foreign currency risks;

·         To create one record for all financial assets of every individual;

·         To enable smoother clearing and settlement for international investors looking to invest in Indian bonds.