Greening Indian Financial Markets for Sustainable Development

Abstract

This article summarizes the recent developments in India’s securities markets regulations, instruments, and intermediaries. It documents the latest and first-ever initiatives in the Indian securities markets such as the implementation of the T+1 settlement cycle, introducing social stock exchange with Zero Coupon and Zero principal bonds, a stronger framework for green debt securities through blue, green, and yellow bonds. The article also dwells upon the regulations related to Business Responsibility and Sustainable Reporting (BRSR), and ESG disclosures and ratings aimed at setting up an efficient market structure by strengthening the governance system. The fourth annual international capital markets conference was organized to foreground India’s multiple challenges and to encourage policy discussion about the latest developments in the Indian securities market. A brief summary of relevant papers presented in the conference and published in this issue is provided at the end of the article.

Keywords

• indian securities markets
• sustainable finance
• recent developments