Mumbai: The country is in talks to join the world’s largest settlement system for securities transactions, Euroclear, Reserve Bank of India deputy governor H.R. Khan on Thursday said.

“On Euroclear there are discussions which are going on. At this stage, I cannot say more than that..talks are going on," Khan told reporters on the sidelines of an event here.

Khan said that the plan is to join the system for both corporate and sovereign bonds, but refused to elaborate. The Belgium-based Euroclear claims to be the world’s largest settlement system for securities transactions, covering both bonds and equities.

According to reports, foreign investors have been calling for the country to join the system in order to make it easier for them to access Indian debt. The country has stringent norms for investors and joining Euroclear will help it easier for them to invest. There is a heightened interest within the international investor community in the last few months due to improved sentiment and a pick up in growth prospects.

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