One of the things we learned from this bitter experience is that high inflation injects additional uncertainty into decision making. In a market economy, prices contain valuable information. When the price of a product is rising relative to other products, it's a signal that that particular product is becoming scarcer.
We had the R H Patil Committee Report on corporate bonds and securitization of 2005 which has served as a reference point for all of us. However, the progress in the growth of the corporate debt segment has not been too satisfactory and there is evidently a pressing requirement to revisit this subject.