RBI announces constitution of technical consultative committee for financial markets

Reserve Bank of India or RBI has announced the constitution of the Technical Consultative Committee for Financial Markets (TCCFM) against the backdrop of rapidly evolving financial markets and infrastructure. The Committee will serve as a forum for structured engagement with market participants and stakeholders by the Reserve Bank on policy and operational matters related to money, government securities and foreign exchange markets as well as the respective derivative markets and infrastructure. The Committee will be Chaired by the Deputy Governor (DG) in charge of the Financial Markets Regulation Department (FMRD) of the Reserve Bank of India.

The Terms of Reference (ToR) of the Technical Consultative Committee for Financial Markets will be as under:

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.

Issues relating to trading, clearing, settlement, reporting and other market infrastructure, including the associated regulatory and operational frameworks.

Emerging policy and operational issues affecting financial markets, including implementation of RBI measures and identification of unintended market frictions.

International and domestic developments, financial innovations, and emerging risks that may affect Indian financial markets.

Any specific market issues or macroeconomic considerations referred to the Committee by the Reserve Bank.

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