The Securities and Exchange Board of India (SEBI) has constituted a 16-member committee to recommend measures for developing corporate bond market in the country.
R H Patil, chairman of the Clearing Corporation of India Ltd (CCIL), will head the 'Corporate Bonds & Securitisation Advisory Committee', SEBI said in a statement today.
Besides SEBI, the committee will have representatives from the Reserve Bank of India and independent experts.
Independent experts in the committee will include Nimesh N Kampani (chairman of JM Financial), Rajiv Lall (MD and CEO of IDFC), Chitra Ramakrisha (joint MD of NSE) and B Prasanna (MD & CEO of ICICI Securities-PD), among others.
The committee is expected to suggest ways of developing the market for corporate bonds and the market for securitised instruments in the country.
Besides advising SEBI on implementing the recommendations of the high level committee on corporate bonds and securitisation, the committee would suggest ways of removing regulatory hurdles.