Given the determination, I have no doubt that India can have one of the most vibrant financial systems in the world. I would like to acknowledge with thanks the help of Shri M. S. Mohanty and Shri Partha Ray of the Reserve Bank of India in the preparation of this lecture. *  BIS Review 108/1998  *  *
Many of you were at the BSP last month when the BSP, in collaboration with the Department of Finance (DOF), Bureau of the Treasury (BTr), and the Securities and Exchange Commission (SEC), unveiled the local currency debt market development roadmap. As you know, the capital market reform agenda will initially focus on benchmark markets.