Book on India's Bond Market Launched at IIT Guwahati With Former RBI Governor's Foreword
A new book titled Indian Bond Market — Structure, Conduct and Macroeconomic Impact was launched at the Indian Institute of Technology (IIT) Guwahati on April 11, 2026. The event attracted a diverse audience of academics, economists, and financial experts, making it a significant occasion for discussions surrounding the often-overlooked bond market in India.
About the Book
This insightful book is co-authored by Dr. Geetima Das Krishna and Prof. Biswajit Nag, with a foreword penned by Dr. D. Subbarao, the former Governor of the Reserve Bank of India (RBI). The authors aim to shed light on the complexities and importance of the Indian bond market, which plays a crucial role in the country’s financial system.
Event Highlights
The launch event was graced by distinguished guests, including:
- Prof. Devendra Jalihal
- S.C. Das
- Prof. Gautam Mazumdar
In addition to these esteemed individuals, faculty members from IIT Guwahati and other invited guests were present, contributing to an intellectually stimulating atmosphere.
Discussion on the Bond Market
The evening’s discussions centered around the bond market, a segment of the financial system that often fails to capture public attention compared to equity markets. While equities tend to dominate media coverage and public discourse, bonds are frequently perceived as a more subdued and less exciting alternative. However, speakers at the event strongly challenged this notion, emphasizing that bonds are neither dull nor devoid of risk. They argued that neglecting the bond market could lead to significant consequences for investors and the economy as a whole.
The Importance of Bonds in India’s Financial Landscape
The release of this book comes at a pivotal time as India aspires to become a developed economy by 2047. The authors argue that establishing a deep, efficient, and transparent bond market is not merely an option but a necessity for achieving this goal. The bond market’s role in India’s broader financial architecture has long been undervalued, and the book seeks to rectify this oversight.
Key Themes Explored in the Book
The book is structured into two main sections:
1. Fundamentals of the Indian Bond Market
The first section provides a comprehensive overview of the Indian bond market, tracing the evolution of various bond segments and the reforms that have influenced their development over time. This section aims to present the fundamentals of the bond market in a clear and structured manner, making it accessible to readers unfamiliar with the subject.
2. Empirical Analysis and the Yield Curve
The second section delves into empirical analysis, focusing particularly on the yield curve as a vital communication channel between policymakers and financial markets. This aspect of the bond market is closely monitored by investors and analysts alike, yet it is rarely explained in a manner that is easily digestible for a broader audience. The authors aim to bridge this gap by providing insights into how the yield curve functions and its implications for economic policy.
Conclusion
The launch of Indian Bond Market — Structure, Conduct and Macroeconomic Impact marks a significant contribution to the understanding of India’s financial landscape. By highlighting the importance of the bond market, the authors encourage readers to reconsider their perceptions of this critical segment of the financial system. As India moves towards its goal of becoming a developed economy, the insights offered in this book could prove invaluable for policymakers, investors, and scholars alike.
Note: This article is based on the book launch event held at IIT Guwahati and aims to provide an overview of the discussions and themes presented during the occasion.
