ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Indian Exchange Traded Funds

This paper seeks to model the long-run relationship between Indian exchange traded funds or ETFs and their underlying indices. The findings indicate that the relationship fails to fully explain the price dynamics of Indian ETFs. In other words, Indian ETFs serve as an imperfect hedge for investors who have exposure to respective underlying indices.

Debt Market Reforms

The debt market remains one of the least developed financial markets in the country. As a result, although the average household investor prefers to invest in fixed income securities, she/he has not been attracted to debt instruments. It is to the credit of the finance minister, therefore, that the major focus of this year's budget in regard to capital markets is the development of an active debt market. The budgetary proposals in this regard aim at the setting up of a major institution for ensuring efficient clearing and settlement of large-sized deals in debt instruments as also some fiscal/legislative reforms for widening the range of tradable debt instruments.
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