Repo funding in Indian G-Secs is fairly deep with average daily volume of about USD 20 billion (Chart 7). In case of interest rate derivatives, there is reasonable liquidity in Interest Rate Futures (IRF) and Overnight  10  Indexed Swaps (OIS) markets 5.
At the same time, the development of credit-scoring tools and the securitization of loan pools are opening doors to national credit markets for both consumers and businesses. Deregulation has encouraged competition and innovation by opening the marketplace to the entry of new service providers and the expansion of existing service providers. Throughout our banking history, markets have adjusted to respond to demand.