Stated differently, the major economies typically have 4-6 benchmark tenor buckets only and this has not weighed against liquidity and the pricing of off-the-run issues. Recent initiatives to exchange short-for-long-term issues help to consolidate depth but a significant potential remains untapped. Second, the bond market can be a more active vehicle for raising long-term capital.
To protect small customers whose knowledge levels and bargaining power are low, banks were mandated to provide a uniform rate for accounts upto ₹ while enjoying flexibility in the rates and charges for accounts over ₹  1  With this, the task of interest rate deregulation has been brought to a logical closure.