Let me now highlight some of the important measures taken to develop the G-sec market and how this role provides the Reserve Bank with the critical levers to balance its multiple responsibilities during normal times as well as during periods of stress. Evolution of the Government Securities Market in India 8.
Within the overarching statutory framework of the RBI Act, 1934, the Government Securities Act, 2006 and the Payment and Settlement Systems Act, 2007, the Reserve Bank has enabled the development of When Issued (W I) trading in G-secs, short-selling, repo transactions, interest rate derivatives and the like.