Subir Gokarn: Regulatory perspectives on derivatives markets in India Keynote address by Dr Subir Gokarn, Deputy Governor of the Reserve Bank of India, at the International Options Market Association, World Federation of Exchanges Annual Conference, organised by the National Stock Exchange, Mumbai, 4 May 2011. *  *  *  Inputs from Sudarsana Sahoo, Edwin Prabhu, Rajib Das, H.S.
***  Another reason for the discussion has recently been the low-interest rate environment which now prevails in much of the developed world. This situation has focused the attention of economists to the so-called zero lower bound of interest rate policy.