India credit derivatives market prepares for lift-off

Initial excitement regarding the long-delayed introduction of credit derivatives in India has waned amid fears that regulatory constraints will hamper market development. But the introduction of credit mitigation tools represents an important step in the development of India’s financial markets

Sucharita Mukherjee, IFMR Capital: CDS will result in more efficient allocation of capital

The Reserve Bank of India (RBI) heralded the onset of credit derivatives in India on May 23, when the central bank published its credit default swap (CDS) guidelines for corporate bonds. The guidelines take effect on October 24 and will finally introduce an invaluable tool for credit risk mitigation and management to Indian debt capital markets.

The RBI first issued draft guidelines back in May 2007. However, it suspended releasing a set of final principles on account of the role of credit

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