In India, all three categories—Insurance Companies, Pension Funds, and Retail Investors—are allowed to trade in Corporate Bonds and Government Securities. Insurance companies are significant players in the bond market, investing a substantial portion of their collected premiums into fixed-income securities, including corporate bonds and government securities. Pension funds also have the capability to invest in these financial instruments, as they are part of the asset classes available under schemes like the National Pension System (NPS). Retail investors have been given access to government securities through platforms like the RBI Retail Direct, which allows them to invest directly in government bonds, Treasury bills, and other related securities. Therefore, all three entities can trade in both corporate bonds and government securities in India.