March 20, 2009

 

Press Release no.1

Market reform key to unlocking India’s credit markets potential

 

Credit market reform as part of a larger financial reform agenda is key to realising the full potential of India’s credit markets. The need for vibrant debt markets, and the path towards deepening the corporate bond market and the creation of an active secondary market for bank loans, were among the important deliberations at a seminar titled ‘Unlocking the potential of India’s Credit Markets’ jointly hosted by National Stock Exchange of India Limited (NSE), CRISIL Limited, and Standard & Poor’s (S&P) held at Mumbai, today.

 

Mr. Ravi Narain, MD and CEO, NSE, said: “The present financial environment has put credit market reform at the top of the financial reforms agenda. We need to find all possible ways to increase the flow of household savings into the debt market. To achieve our real potential for economic growth, we need to make our credit markets flexible.”

 

Mr. R Ravimohan, MD and Region Head, South and Southeast Asia, S&P, commented “There is a compelling case for trading of corporate credit instruments other than bonds. For instance, trading of bank loans would give banks tremendous flexibility in managing their balance sheets, align lending rates better with bond market yields, and make the bond markets more inclusive.”

 

Ms. Roopa Kudva, MD and CEO, CRISIL Ltd, elaborated: “Traditionally, the corporate bond market has been accessed only by entities with very high credit ratings of ‘AAA’ and ‘AA’, while entities across the credit spectrum take loans. An active secondary market for loans will, over time, help entities with ratings lower than ‘AA’ to access the bond market directly. Rating of bank loans will go a long way towards standardising practices and creating an enabling environment where loans can be traded with ease."

 

Media Contacts

 

Sandra Barros

National Stock Exchange of India Limited

Phone: +91 22 26598148

Email : cc_nse@nse.co.in

 

 

Ramya Krishnan-Anil

Head, Market Development & Communications

CRISIL Limited

Phone :+91 22 6758 8051

Mobile : +91 98203 42671

Email : RamyaKA@crisil.com

 

About NSE

National Stock Exchange (NSE), established in the mid 1990s as a demutualised electronic exchange by leading Indian financial institutions, offers trading, clearing and settlement services in a range of products covering equity, debt and equity derivatives. It is India's largest exchange and ranks third globally by number of trades in the equities market.  NSE has played an important role in helping reform the Indian securities market and in bringing about transparency, efficiency and market integrity.

 

NSE introduced trading in equity derivative products in 2000-01.  In this short span of time, NSE has become the largest exchange in single stock futures and ranks fourth in index futures globally. Its flagship index, the NIFTY 50, is used extensively by investors in India and around the world to take exposure to the Indian equities market. For more information, visit http://www.nseindia.com

 

About CRISIL Limited, a Standard & Poor’s Company

CRISIL is India's leading Ratings, Research, Risk and Policy Advisory Company. CRISIL’s majority shareholder is Standard & Poor’s, a subsidiary of The McGraw-Hill Companies and the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research and data.

 

CRISIL offers domestic and international customers a unique combination of local insights and global perspectives, delivering independent information, opinions and solutions that help them make better informed business and investment decisions, improve the efficiency of markets and market participants, and help shape infrastructure policy and projects. Our integrated range of capabilities includes credit ratings and risk assessment; research on India's economy, industries and companies; investment research outsourcing; fund services; risk management and infrastructure advisory services.

For more information, visit http://www.crisil.com

 

About Standard & Poor’s

Standard & Poor's, a subsidiary of The McGraw-Hill Companies (NYSE:MHP), is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research and data. With offices in 23 countries and markets, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com

 

Disclaimer

This Press Release is transmitted to you for the sole purpose of dissemination through your newspaper/magazine/agency.  The Press release may be used by you in full or in part without changing the meaning or context thereof but with due credit to CRISIL, S&P and NSE.  However, CRISIL, S&P and NSE alone have the right of distribution of this Press Release for consideration or otherwise through any media including websites, portals etc.

 

 

Press Release no.2

NSE completes its 2268th Normal Settlement

 

The Exchange has successfully completed its 2268th Normal Settlements (Rolling T+2 following SEBI directive) since inception i.e., Settlement Numbers N – 2009050 on Mar 20, 2009. The settlement statistics is as follows:     

 

Particulars
Values

 

N-2009050

Total traded quantity (lakhs)

7032.09

Total traded value (Rs. In Crores)

10900.00

Total value of the settlement (Securities) (Rs. In Crores)

2017.40

Total value of the settlement (Funds) (Rs. In Crores)

730.04

Shortages for the settlement

0.15%

% of  Delivery ( No. of shares deliverable / No. of shares traded )

20.12%

 

Retail Debt Market have completed its 1542th settlements detail of which are as follows:

 

Settlement No.

Traded Value

Settlement Value

 

 

Securities

Funds

D- 2009050

NIL

NIL

NIL