Access to bond markets must be widened: RBI

RBI deputy governor Rohit Jain said bond markets need more depth, not just scale, to provide market-based finance for more enterprises.

Jain stated that the bank-led model alone will not suffice to meet future financing needs.

He called for investors capable of differentiating and pricing credit risk, reliable recovery mechanisms, and markets to manage and redistribute risk.

Jain emphasized that India's goal of becoming a developed economy by 2047 requires financial markets to mobilize more long-term capital and distribute risk efficiently.