The introduction of securities lending will bring the Indian stockmarket much closer to global standards.

India’s equity market infrastructure, touted to have reached global standards with electronic trading, rolling settlements, a growing derivatives market and a smooth clearing and settlement process, has had one major chink in its armour — the absence of a functional securities lending and borrowing system. That lacuna will be remedied this year, thanks to Sebi’s initiatives and a green signal from finance minister P. Chidambaram in this year’s Budget speech.

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