India's Central Bank Establishes Financial Markets Technical Advisory Committee

The Reserve Bank of India (RBI) has established a technical advisory committee to engage with market participants on policy and operational issues as financial markets and their infrastructure evolve rapidly. According to Sina Finance, the committee will be chaired by the deputy governor responsible for financial markets regulation and has seven external members, including representatives from State Bank of India, Axis Bank, ICICI Bank, Citi India, Clearing Corporation of India and Morgan Stanley India; former Indian market regulator senior official Ananth Narayan is also a member. The committee will examine the operation, efficiency, liquidity and resilience of money markets, government securities markets, foreign exchange markets and related derivatives, as well as trading, clearing, settlement, reporting and other market infrastructure issues, including associated regulatory and operational frameworks. The RBI announced the committee at its monetary policy review meeting in October, and it will meet at least once a quarter.