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RBI ropes in Citi, Morgan Stanley, ICICI honchos for financial markets panel

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RBI ropes in Citi, Morgan Stanley, ICICI honchos for financial markets panel

RBI ropes in Citi, Morgan Stanley, ICICI honchos for financial markets panel

The committee will examine issues affecting the functioning of financial markets, including trading, clearing, settlement and reporting mechanisms, as well as identify measures to deepen and broaden these markets. It will also assess the implementation of RBI measures and identify unintended market frictions arising from regulatory or operational change

The seven-member panel includes representatives from SBI, Axis Bank, ICICI Bank, Citibank, Clearing Corporation of India and Morgan Stanley, along with former Sebi member Ananth Narayan. The committee will meet at least quarterly to examine market efficiency, liquidity, resilience and infrastructure across money, government securities and foreign exchange markets. Its mandate includes identifying unintended market frictions arising from RBI regulations and assessing the impact of domestic and international developments on financial markets. The panel follows RBI's October 7 policy announcement and comes amid currency-market volatility, pressure on foreign exchange reserves and shifting domestic liquidity conditions.

The Reserve Bank of India (RBI) has constituted a seven-member external committee to seek structured feedback from market participants on policy and operational issues across money, government securities and foreign exchange markets, as the central bank seeks to improve market efficiency, liquidity and resilience amid evolving financial conditions. The Technical Consultative Committee for Financial Markets (TCCFM), chaired by the deputy governor in charge of the Financial Markets Regulation Department, will meet at least once every quarter. The committee will examine issues affecting the functioning of financial markets, including trading, clearing, settlement and reporting mechanisms, as well as identify measures to deepen and broaden these markets.


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