Speaking at the 7th annual financial services convention, several experts including Mr PR Gopala Rao, RBI executive director, Mr RC Royappa, chairman, primary dealers association of India, Dr GP Chawla, who spoke on the issue of development of debt market, agreed that the RBI has taken a tremendous effort to develop the country's debt market.

Of late, the trading volumes in the country's debt segment has increased substantially. A volume of 3,000 crores a day is seen from a meagre 250 crore a day two years back. Mr Royappa said: "The RBI has paved the way for improved debt market. But only the half way is done.