RBI deputy governor maps out the future of OTC derivatives in India

National Stock Exchange of India

The deputy governor of the Reserve Bank of India, Subir Gokarn, has outlined new initiatives for over-the-counter derivatives in India, including the development of trade compression services and the establishment of a credit default swap (CDS) market.

Gokarn says the development of OTC – and exchange-traded derivatives – was an important part of India's overall financial sector strategic development and should be used to contribute to economic growth. He made the comments during a speech at the