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The Future of India 's Debt Market 1997
Bombay, 9th & 10th October 1997
"Opening Session"
9th October, 1997, 8.30 am to 10.40 am
Registration at venue
Welcome Address
Ms. Preeta Misra
Chief Executive, Invest India Conferences
Special Address
Mr. D. Basu
Chairman, Securities Trading Corporation of India Limited
Inaugural Address
Dr. Y.V. Reddy
Deputy Governor, Reserve Bank Of India
Keynote Address
Mr. K.V. Kamath
Managing Director and Chief Executive Officer
The Industrial Credit and Investment Corporation of India Limited
Inauguration of the Invest India Trade Show
Followed by Coffee
"Primary Market"
Technical Session #1, 9th October, 1997
11.30 am to 1.15 pm
This session will address current problems facing issuers in the mobilisation of funds in various segments of the debt market, viz. corporate bonds, PSU bonds and gifts. Participants will suggest solutions to resolve the problems and activate the primary market.
In this session, we have presentations by some of the most interesting business plans in India's brokerage industry, which will help us better understnd the challenges faced in the brokerage area.
Panelists
Mr. P.S. Subramanyam
Executive Director, Industrial Development Bank of India
Mr. K. Kanagasabapathy
Chief General Manger, Internal Debt Management Cell, Reserve Bank Of India
Mr. Vijay Ranjan
Executive Director, Securities and Exchange Board of India
Mr. S.R. Kamath
Deputy General Manager, Securities Trading Corporation of india Limited
Co-Moderators
Dr. O.P.Chawla
Ms. Preeta Misra
Presentations
Issues and Challenges in the Primary Debt Market
Issues Related to Distribution and Placement
Mr. Shekhar Sathe
Senior Vice President, Kotak Mahindra capital Company
Issues in Pricing
Mr. V. Srinivasan
Group Manager (Fixed Income), ICICI Securities & Finance Co. Ltd.
Regulatory Issues
Mr. PGR Prasad
Deputy General Manager, SBI Capital Markets Limited
Panel Discussion followd by questions and answers
"Secondary Market"
Technical Session 2,
9th October, 1997,
2.00 pm to 3.40 pm
While several concerns in the primary and secondary markets are inter-related, this session will explore the feasibility of introducing new particpants, instruments and methods into the secondary market for debt.
In this session, we look at the business plans of some key exchanges : what are the challenges that they face, and how do they propose to deal with them.
Panelists
Dr. P.J. Nayak
Executive Trustee, Unit Trust Of India
Mr. S.K. Mukerji
Managing Director, Discount and Finance house of India Limited
Mr. R. Venkatesan
Managing Director, Securities Trading Corporation of India Limited
Dr. Nachiket Mor
Senior Vice President, The ICICI Limited
Co-Moderators
Dr. O.P. Chawla
Ms. Preeta Misra
Presentations
Widening and Deepening the Secondary Debt Market
Ms. Chitra Ramkrishna
Senior Vice President, Wholesale Debt Market
National Stock Exchange of India Limited
Mr. Jayesh J. Mehta
First Vice President, DSP Merrill Lynch Limited
Mr. Manoj Rane
Assistant Vice President (Treasury)
IndusInd Bank Limited
Panel Discussion followed by questions and answers
"Legal Issues"
Technical Session #3, 9th October, 1997
4.00 pm to 7.45 pm
Market participants are seriously concerned about the major legal issues which currently constrain the development of various segments of the debt market. This session examines these concerns and probable solutioins available.
Panelists
Mr. D.N. Raval
Executive Director, Securities and Exchange Board of India
Mr. Cyril Shroff
Partner, Amarchand & Mangaldas & Suresh A Shroff & Co.
Mr. S.H. Bhojani
Executive Director, The ICICI Limited
Co-Moderators
Dr. O.P. Chawla
Ms. Preeta Misra
Presentations
Issues in Debt Derivatives
Mr. Debashish Dutta Gupta
General Manager, Fixed Income
Peregrine Capital India Private Limited
Issues Related to Regulations
Mr. NV Deshpande
Legal Advisor, Reserve Bank of India
Issues Related to Transactions
Mr. Rajendra P Chitale
Managing Partner, M.P. Chitale & Co.
Panel Discussion followed by questions and answers
Closing Remarks by OP Chawla
Dinner for participants
Ballroom, The Taj Mahal Hotel, Mumbai
"Risk Management"
Technical Session #4, 10th October, 1997
10.00 am to 12.15 pm
De regulisation of the interest rate structure and the associated changes have led to increased risks for market particpants. There is thus an urgent need to introduce instrumetns and practices to manage risks arising from interest rate volatility and other market factors. These risks are visualised to be particularly high in managing large and diverse investment portfolios. This session examines these risk related issues in detail.
Panelists
Mr. Ravi Narain
Deputy Managing Director, National Stock Exchange of India Limited
Mr. Shailendra bhandari
Executive Director & Treasurer, HDFC Bank Limited
Mr. Ashvin Parekh
Partner, KPMG-Peat Marwick
Dr. Ajay Shah
Assistant Professor, Indira Gandhi Institute of Development Research
Co-Moderators
Dr. O.P. Chawla
Ms. Preeta Misra
Presentations
Opening Remarks by Dr. O.P. Chawla
Managing Bank Investment Portfolios : Risk Aspects
Mr. YP Narang
Managing Director, PNB Gilts Limited
Credit Risk
Mr. R. Ravimohan
Managing Director, CRISIL
Interest Rate Risk and Derivatives
Mr. Pavan K Sukhdev
Country Head - India (Treasury & Global Markets)
Deutsche Bank AG
Panel Discussion followed by questions and answers
"India's Debt market : Future Directions"
Technical Session #5, 10th October, 1997
1.10 pm to 3.00 pm
De regulation of the market, consequent introduction of new instruments and new technology, higher degrees of market risk and the new regulatory environment are expected to transform India's debt market in the next 3-4 years. Presentations in the session will focus on aspects of the emerging profile of the debt market. Theis session will feature six presentations and is divided into two successive sub sessions.
Panelists
Dr. R.H. Patil
Managing Director, National Stock Exchange of India Limited
Mr. M. Lall
Senior Vice President, IndusInd Bank Limited
Mr. A.R. Barwe
Managing Director, SBI Capital Markets Limited
Mr. Pradeep Dokanla
Senior Vice President & Head, Corporate Finance Group, DSP Merrill Lynch Limited
Presentations
Widening the Debt Market - Innovating new Channels
Mr. D. Desai
Vice President
J.M. Financial & Investment Consultancy Services Limited
Promoting Debt Funds
Mr. UR Bhatt
Director & CIO
Jardine Fleming India Asset Managment Limited
Securitisation of Debt
Mr. G. Shiva
Vice President & Head
Fixed Income and Money Markets, CitiBank NA
Panel Discussion followed by questions and answers
"Future Directions"
Technical Session#5 (Continued), 10th October, 1997
3.20 pm to 6.00 pm
Panelists
Dr. R.H. Patil
Managing Director, National Stock Exchange of India Limited
Mr. M. Lall
Senior Vice President, IndusInd Bank Limited
Mr. A.R. Barwe
Managing Director, SBI Capital Markets Limited
Co-Moderators
Dr. O.P. Chawla
Ms. Preeta Misra
Presentations
Reducing Cost of Settlement in Debt
Mr. Gagan Rai
Executive Director, National Securities Depository Ltd
Developing the Inter-Bank Term Money Market
Mr. Vishnu Deuskar
Country Treasurer, ABN-AMRO Bank NV
Integration of the Domestic Debt Market with the Forex Market
Mr. AV Rajwade
Partner, AV Rajwade & Co.
Panel Discussion followed by questions and answers
Closing Remarks by Dr. OP Chawla
Vote of thanks by Ms. Preeta Misra
Close of discussions
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