RBI Constitutes Technical Consultative Committee for Financial Markets:
The Reserve Bank of India (RBI) constituted the Technical Consultative Committee for Financial Markets (TCCFM) to strengthen consultation with market participants on regulatory, operational and policy issues affecting India’s financial markets.
- The committee is chaired by RBI Deputy Governor Rohit Jain, who is in charge of the Financial Markets Regulation Department (FMRD).
- The eight-member committee comprises the RBI Deputy Governor and seven external members representing banks, market infrastructure institutions, financial research organisations and securities markets.
- Includes Money markets, government securities markets, foreign exchange markets and their associated derivatives markets.
- It Examines trading, clearing, settlement and reporting mechanisms to improve market efficiency and resilience.
- It Identifies measures to deepen and broaden financial markets, improving their functioning, liquidity, efficiency and resilience
- It Reviews domestic and international developments, financial innovations and emerging risks affecting financial markets.
- Provides a platform for market participants to highlight operational difficulties, regulatory challenges and unintended market frictions arising from regulatory measures.
- Strengthens regulatory consultation, improves financial market liquidity and efficiency, promotes robust market infrastructure and enhances India’s capacity to respond to emerging financial risks.
