New Delhi, Oct. 1 -- The National Stock Exchange of India (NSE) has received a No Objection Certificate (NOC) from the Securities and Exchange Board of India (SEBI) to introduce futures contracts on a Corporate Bond Index, marking a step towards expanding India's corporate bond derivatives market.

The proposed product will provide market participants with an exchange-traded avenue to manage corporate bond market risk, hedge portfolios, and improve price discovery. The launch, however, remains subject to the requisite approval from the Reserve Bank of India (RBI).

Corporate bond index futures are exchange-traded derivative contracts that track a portfolio or index of corporate debt securities.

Corporate bond index futures are expected t...