Niti Aayog’s Rajiv Kumar calls for inter-operability among stock exchanges

Niti Aayog Vice-Chairman Rajiv Kumar on Wednesday called on India’s capital markets to bring about better reconciliation between spot and derivative markets that he said is essential to win confidence of small investors.

"Our markets are expanding fast and emerging among the leading markets globally. But only 2 per cent of Indian households come into the capital market," Kumar said.

“For much of Indians, the stock market is still a satta bazaar,” Kumar said, adding that the stock exchanges and the market fraternity need to do their bit to change that perception.


Kumar was speaking at the inaugural function of silver jubilee celebration of the NSE in New Delhi.

He also urged the stock exchanges to work towards establishing interoperability to ensure a smooth run in case of technology breakdown and such other crises.

"While the stock exchanges have done a great deal to bring the SME segment of the economy into the capital markets, the bourses need to do more to integrate more small and medium enterprises with the capital market," Kumar added.

Kumar painted a rosy picture of Indian capital markets, saying $1.5-2 trillion domestic savings are set to flow into this space over the next few years.

He said reforms undertaken during the past four years of the Modi government have eclipsed those of 1991-95.