Sebi to set up corp debt mkt development fund with Rs 3,000 crore initial corpus from MFs

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Sebi decided to set up a corporate debt market development fund in the form of an AIF with an initial corpus of Rs 3,000 crore to act as a backstop facility for purchase of grade

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corporate debt securities during times of Stress.The move is aimed at instilling confidence amongst the participants in the corporate bondmarketand to generally enhance Secondary Market liquidity.

CDMDF, based on a guarantee to be provided by National Credit Guarantee Trust Company (NCGTC) may raise funds, for purchase of corporate debt securities during market dislocation.