Finance Minister: Union Finance Minister Nirmala Sitharaman today launched AMC Repo Clearing Limited (ARCL) and Corporate Debt Market Development Fund (CDMDF) for corporate bonds.
Finance Minister: Union Finance Minister Nirmala Sitharaman today launched AMC Repo Clearing Limited (ARCL) and Corporate Debt Market Development Fund (CDMDF) for corporate bonds. Earlier, the financial market regulator SEBI had also introduced a detailed framework for the Corporate Debt Market Development Fund (CDMDF).
Event held in Mumbai
Today a program related to this was organized at the Taj Hotel in Santacruz, Mumbai. Corporate bond repo rate platform has gone live after the inauguration of Finance Minister Nirmala Sitharaman. Significantly, the Finance Minister had announced this in his previous budget speech. This platform is very important for the Indian bond corporate market.
What did the finance minister say
In his address during this program, the Finance Minister said that the country’s capital market has emerged as a trendsetter for many types of trade. He said that we are able to complete fast settlement works for the capital market. The number of retail demat accounts in the country has increased from 2 crore in the year 2013 to 11.4 crore this year, which is a big figure for the stock market.
Smt @nsitharaman addresses the audience post the launch of the AMC Repo Clearing Limited #ARCL and the Corporate Debt Market Development Fund #CDMDF for corporate bonds in Mumbai.
Also present on the occasion are @SEBI_India Chairperson Smt Madhabi Puri Buch & Secretary… pic.twitter.com/VJVJpFnerh
— Nirmala Sitharaman Office (@nsitharamanoffc) July 28, 2023
Finance Minister Nirmala Sitharaman also said that financial regulators have heavy work and responsibility for many types of regulation. It is necessary to have tight regulation and complete regulation, so tech enabled system should be used for all financial markets. For a self-reliant India, it is necessary for the regulators to be aware, through this a favorable environment can be created.
Trust is very important for the stability of the market, so market, regulator, government, policy makers and legislators all need to create a favorable environment together. Work is being done in this direction in the country and the interest and curiosity of the ever-increasing investors in the stock market is being maintained.
