India may soon see a debt market: SEBI Chairman

India is likely to see the beginnings of a debt market soon, SEBI Chairman C B Bhave said today. "We do not now have a non-OTC debt market.

There are some signs that people will be issuing large debt...signs are seen in which investors do have money but have a preference for debt instruments," SEBI Chairman C B Bhave said at a conference here.

If these investors see a "reliable" issuer, they would respond in a substantial manner, Bhave said. "We believe that a few more issuers are planning (debt), so there is a scope that we might see the beginnings of the debt market," Bhave said.

On the request of the National Stock Exchange (NSE) for an earlier start of trading, Bhave said some members have objected to this and "we are still discussing the issue."

The NSE had earlier made a request to the market regulator to allow it to start trading at 8 am in Nifty futures.

On the Satyam episode, Bhave said "no comments". On allowing more market participants in currency trading futures, Bhave said that a SEBI-RBI panel already in place would decide on the issue.

The panel was looking at the issue and it would decide on whether to allow more market participants in the segment, he said. "We are discussing the issue and once we receive public comments (on the matter), we will decide on this," the SEBI Chairman said.