In India, the RBI considers that well functioning markets for Government Securities are necessary for both effective Government debt management and monetary management, while serving the broader interest of development of financial markets in general and debt markets in particular. Accordingly, RBI has taken a number of initiatives in developing both the primary and secondary markets for Government Securities. 4.
Key issues relating to the Government Securities market  There are several motivations for and objectives in a central bank being interested in developing Government Securities market and hence the issues involved vary in significance from country to country as also in the context of the stage of development of markets.