The debt market, which provides trading facilities for the whole range of debt instruments, is still in its infancy with an average daily activity in this segment varying between Rs 350 to 400 million. Instruments traded include government securities, treasury bills, public sector and institutional bonds, commercial bonds and corporate debentures. It is characterized by large participants such as banks and institutions. The debt market is a key factor in the development of the capital markets. An important element of this is a need for a much wider government securities market.
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