The Reserve Bank of India announced an array of changes aimed at widening and deepening India's corporate bond market in order to raise it to global standards and eliminate the risk of banks' large non-tradable exposures to a particular group.
Investors welcomed the measures — unveiled just days before Raghuram Rajan steps down as governor — as the big-bang reforms they had long been waiting for. These include the staggered reduction of banks' loan exposure, increased participation ..
