..........Should the RBI be completely divested of its public debt management function? And should it deal in government securities only to implement its monetary policy moves? Across countries, has life insurance growth been facilitated by the existence of credible fixed-income markets? What is the impact of sustained, “positive” real interest rates on the growth of fixed-income markets and wholesale investors such as insurance companies, pension funds? That is the kind of public pressure that the IRDA should be applying on other policy-makers to force action.........
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