Chart 8: Share in Outstanding Corporate Bonds (%) - As at end of FY2022 10.51%  5.49% 13.54%  27.57%  15.89%  24.51% 2.49%  Bank  Body Corporate  Foreign Portfolio Investor (Corporate)  Mutual Fund  Qualified Institutional Investors  Trust  Others Source: SEBI  23.
In these simulations, shocks to lending rate spreads and risk-free rates entail a stronger reaction of both business and housing investment in the low-rate environment (0.6-0.7 percentage points and 0.4-0.5 percentage points, respectively) by 2024, compared to a scenario with higher initial levels of lending rates (Chart 4, solid bars).