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RBI forms mkt committee with bankers, experts
In Short
The Committee will be headed by the Deputy Governor (DG) in charge of the Financial Markets Regulation Department (FMRD). Currently, this portfolio is held by Deputy Governor Rohit Jain
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Reserve Bank of India
Mumbai:The Reserve Bank of India (RBI) on Wednesday announced setting up a Technical Consultative Committee for Financial Markets (TCCFM) which will focus on critical policy and operational matters across money markets and government securities, among others.
The Committee will be headed by the Deputy Governor (DG) in charge of the Financial Markets Regulation Department (FMRD). Currently, this portfolio is held by Deputy Governor Rohit Jain. "The Committee will serve as a forum for structured engagement with market participants and stakeholders by the RBI on policy and operational matters related to money, government securities and foreign exchange markets as well as the respective derivative markets and infrastructure," it said. RBI said the TCCFM will take up issues relating to trading, clearing, settlement, reporting and other market infrastructure, including the associated regulatory and operational frameworks.
"Issues related to the functioning, efficiency, liquidity and resilience of the money, government securities, foreign exchange and related derivative markets, and identification of measures to deepen and broaden these markets," are among the Terms of Reference (ToR).
The panel will also focus on emerging policy and operational issues affecting financial markets, including implementation of RBI measures and identification of unintended market frictions.
