India's online bond push angers bankers and arrangers

Mumbai

INDIA'S securities regulator has caused anger among banks and arrangers with its latest proposals to require more bond offerings to be conducted on the electronic platform introduced last year.

The Securities and Exchange Board of India (Sebi) last week put out a consultation paper to improve transparency and price discovery in the bond market, but some measures, such as extending direct participation to non-institutional investors and requiring bookrunners to disclose their proprietary bids, are already unpopular.