SEBI re-constitutes panel on corporate bond market


SEBI re-constitutes panel on corporate bond market

Markets regulator Sebi has re- constituted its committee that suggests roadmap for developing corporate bond market in the country.The 27-member committee would now be chaired by Harun R Khan, former Deputy Governor at the Reserve Bank of India (RBI), as per the latest update with Securities and Exchange Board of India (Sebi).

Earlier, the panel was headed by Shyamala Gopinath, who was also a former Deputy Governor at RBI.Notably, Sebi chairman Ajay Tyagi was part of the HR Khan committee appointed to look into measures to deepen the corporate bond market in the country.The committee — corporate bonds and securitization advisory — has representations from the government, banks, markets regulator, mutual funds, rating agencies, stock exchanges and depositories.

The panel was set up in 2011 under the chairmanship of R H Patil and is mandated to advise the regulator on developing the corporate bond market and as well as securitised instruments in the country.It also advises Sebi on “implementing the recommendations of the high level committee on corporate bonds and securitization”. It also suggests Sebi on removal of regulatory hurdles under its purview and advise on issues which need to be taken up with other regulators.

One of the major terms of reference of this committee is to advise Sebi on issues for addressing the operational and systemic risks, if any, in the market for corporate bonds and securitized instruments.The members on the panel include Jayesh J Mehta, managing director and country treasurer at Bank of America Merrill Lynch; Milind Barve, MD and CEO of HDFC Mutual Fund; A Balasubramanian, CEO at Aditya Birla Sun Life Asset Management Company, BSE chief Ashishkumar Chauhan and NSE chief Vikram Limaye.

The Times of india, New Delhi, 08th Maarch 2018

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