India unveils blockchain platform for debenture covenant monitoring May 8, 2022 May 8, 2022 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsMay 8, 2022 by Kelly Cromley

India unveils blockchain platform for debenture covenant monitoring

On Saturday, SEBI (Securities and Exchange Bureau of India) – India’s capital market regulator – rolled out the Distributed Ledger Technology (DLT) based blockchain platform for tracking debenture covenants.

Intended at guaranteeing complete transparency in the debenture market, the platform will draw issuers and debenture trustees on a common platform to document asset charges and also track the asset cover ratio and several associated covenants.

The data recorded in the platform will get signed cryptographically, time-stamped, and serially included in the ledger. It would also offer a factual audit trail of dealings, thereby enhancing trust in the market.

Professionals stated that the transparency in debentures’ release will aid in luring overseas capital inflows into the bond market of the country.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.