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The ICICI impetus

Following regulatory steps towards new derivatives instruments in India, demand for equity-linked capital-protected products has soared in the country's nascent retail structured products market. ICICI Bank says its two-pronged product strategy and distribution network is well placed to meet the demand. Matt Cameron reports

The spectacular rally of the Indian equity markets during the past three to four years has proved to be a catalyst for attracting new investors. But the volatile nature of the financial markets has led many investors to pursue less risky investments while still buying local equities.

"The recent spike in volatility has served to increase risk-aversion among investors," says Ashish Kehair, head of

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