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Beginnings of a debt market in India seen: Sebi Chairman

India is likely to see the beginnings of a debt market soon, a top Securities & Exchange Board of India (Sebi) official said on Friday.

business Updated: Mar 06, 2009 14:27 IST

India is likely to see the beginnings of a debt market soon, a top Securities & Exchange Board of India (Sebi) official said on Friday.

"We do not now have a non-OTC debt market. There are some signs that people will be issuing large debt...Signs are seen in which investors do have money but have a preference for debt instruments," Sebi Chairman, C B Bhave, said at a conference in Mumbai.

If these investors see a "reliable" issuer, they would respond in a substantial manner, Bhave said.

"We believe that few more issuers are planning (debt), so there is a scope that we might see the beginning of the debt market," Bhave said.

On the request of the National Stock Exchange (NSE) for an earlier start of trading, Bhave said some members have objected to this and "we are still discussing the issue."

NSE had earlier made a request to the market regulator to allow it to make an earlier start of trading in the morning at 8 am, in Nifty futures.