The Indian government, in collaboration with the Reserve Bank of India (RBI), has initiated a sweeping series of reforms to its government securities (G-Sec) market, aiming to secure inclusion in major global bond indices like the Bloomberg Emerging Market Local Currency Index. This strategic move, accelerated throughout the current fiscal year, seeks to attract significant…
BSE Index, a subsidiary of the BSE (formerly Bombay Stock Exchange), has officially launched a new 5-year sovereign bond benchmark designed to facilitate passive investment strategies within the Indian debt market. The initiative, announced this week, establishes a standardized performance metric for government securities, effective retrospectively from April 27, 2018, with a base value set…
RBI Guarantees Full Subscription for Government Debt The Reserve Bank of India (RBI) successfully secured 100% subscription coverage for a Rs 28,000 crore government bond auction this week, utilizing an Additional Competitive Underwriting (ACU) process to ensure market stability. By finalizing commission rates for Primary Dealers (PDs) ahead of the main sale, the central bank…