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Deepen the corporate bond market, Arun Jaitley tells Sebi

Talking to reporters, Sebi Chairman Ajay Tyagi said the finance minister was of the view that the regulator should focus on deepening the corporate bond market and more IPOs to help meet the disinvestment targets as well as monetisation of assets through InVITs.

By: PTI | New Delhi | Published: February 10, 2018 2:35 pm
Arun Jaitley, SEBI chief, Jaitley Sebi meeting, Finance Minister Arun Jaitley, Jaitley RBI meeting, Jailtey on corporate Bond, Indian Express Finance Minister Arun Jaitley addressed the market regulator’s board in a customary post-Budget exercise. (Express File photo/Prem Nath Pandey)

Finance Minister Arun Jaitley on Saturday asked markets regulator Sebi to take more steps to deepen the corporate bond market and hoped that continuing uptrend in IPOs will help in meeting the disinvestment targets. The board of Securities and Exchange Board of India (Sebi) today apprised Jaitley about the market trends and recent initiatives taken by it.

Jaitley addressed the market regulator’s board in a customary post-Budget exercise. Talking to reporters, Sebi Chairman Ajay Tyagi said the finance minister was of the view that the regulator should focus on deepening the corporate bond market and more IPOs to help meet the disinvestment targets as well as monetisation of assets through InVITs.

“We have apprised the finance minister about what are our priorities and what we have been doing in the (past) one year,” he said. He added that Jaitley appreciated the initiatives taken by the markets regulator. “I think more than Sebi, capital markets… have been really doing well globally,” Tyagi said. The board also discussed the implementation of the Budget announcements related to Sebi.

Later, while addressing RBI’s board, Jaitley said: “I had a meeting with Sebi board and one of the factors that stood out from the regulator’s presentation is that there is an increased reliance on corporate bonds as far as credit is concerned.”

Besides Jaitley, the Sebi board meeting was attended by Minister of State for Finance Pon Radhakrishnan, Finance Secretary Hasmukh Adhia, Chief Economic Adviser Arvind Subramanian, Corporate Affairs Secretary Injeti Srinivas, Sebi’s board members G Mahalingam, Arun P Sathe and Madhabi Puri Buch and other senior officials of the markets regulator.

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  1. Nilesh Jain
    Feb 10, 2018 at 4:10 pm
    Lats week, I read. Yes Bank issued bonds in London. I was just wandering all the banks from world are present in India (Mumbai, Delhi). Why can't these bonds be issued in India itself, where all the banks from world can parti te, being in India. Banks from China, Singapore, Honk Kong, Russia, ASEAN can parti te in the bond issue in India itself. Just a suggestion, if these bonds can be issued in India itself and bank from world can parti te in India being in India itself.
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