Several decades ago, much of that on-the-job training was acquired through work experience; today we are seeing greater emphasis on the value of formal education and training programs for workers. Developing human capital is perceived by many corporations as adding to shareholder value.
It may be recalled that in July 2007, RBI had, through a regulatory mandate, tasked CCIL to collect and collate transaction level data for IRS. The reporting framework for Credit Default Swaps (CDS) was put in place from the date of introduction of the instrument itself. The current initiative is another significant step in that direction.