Sebi Executive Director Pramod Rao urged pension funds and insurers to invest more in municipal bonds, noting India’s market is much smaller than the US’s USD 4 trillion municipal bond market. Rao emphasized the need for increased municipal bond use and suggested creating campaigns to boost bond market participation. LIC’s MD R. Doraiswamy expressed interest in diverse investments, while SBI MD Ashwini Kumar Tewari highlighted issues with low-rated companies in the bond market.
