Mumbai, April 20 -- April 20 : India's financial markets have developed into a dynamic and resilient force to fuel economic growth with an almost doubling of the foreign exchange market from $32 billion in 2020 to $60 billion in 2024 and the average daily volumes in the overnight money markets surging from about Rs 3 lakh crore to over Rs 5.4 lakh in this four-year period, according to RBI Governor Sanjay Malhotra.

There has also been a 40 per cent surge in average daily volumes in the government securities (G-secs) markets to Rs 66,000 crore over the same period. Addressing the 24th FIMMDA-PDAI annual conference in Bali this weekend, Malhotra said the levels of transparency in Indian markets are at par with the best in the world.

"With...