The Hindu Business Line : RBI revamps advisory panel on money markets

THE Reserve Bank of India (RBI) has decided to reconstitute the Technical Advisory Committee on money and government securities markets for a further term of two years from the day of its first meeting.

The scope of the Committee has been widened to include foreign exchange market keeping in view of its interlinkages with money and government securities markets and its implications for monetary policy implications, said a press release.

The Committee would advise the RBI, on an ongoing basis, on the development of healthy and vibrant money, foreign exchange and government securities markets.

Dr Rakesh Mohan, Deputy Governor of RBI, will chair the reconstituted Technical Advisory Committee (TAC). The Committee will review and recommend measures for deepening and widening the money, foreign exchange and government securities markets including those relating to participants, products, institutional and infrastructural arrangements, the release said.

It will suggest measures for development of market and promoting liquidity in money market instruments, foreign exchange market and government securities and examine and advise on the evolving and desirable linkages among the money, foreign exchange and government securities and capital markets. It is expected to review the infrastructure, legal and institutional arrangements for trading, transfer and settlement in the money, foreign exchange and government securities markets in the context of the emerging payments system including CCIL, to prepare and consider papers on topics relating to product/market development and advise on the policies and practices for the same.

The Committee will evaluate the qualitative and quantitative aspects of risk management, accounting, disclosure, settlement and legal framework, render advise, and examine any other relevant issue having a bearing on these markets referred to it, by RBI.

The Deputy Governors, Executive Director in charge of Internal Debt Management Department (IDMD) and Department of External Investments and Operations (DEIO); Principal Monetary Policy Adviser, Monetary Policy Department (MPD); Principal Adviser, Department of Economic Analysis and Policy; Chief General Manager-in-Charge, Foreign Exchange Department and Regional Director, Maharashtra and Goa of Reserve Bank of India, will be permanent invitees of the Committee, the release said.

The Chief General Managers-in-Charge of DEIO and IDMD, and Adviser, MPD of Reserve Bank of India will be Secretaries.

More Stories on : Financial Markets | RBI & Other Central Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Borrowing spree in the offshore turf

Meet on family finances in Hyderabad

Rupee range-bound; securities recover

Mauritius bank to deploy Finacle

Asian Institute of Comm ties up with US body for insurance courses

NBFCs seek closer tie-ups with banks

RBI revamps advisory panel on money markets

United Bank CMD

HR policies key to our success: Indian Bank chief

Syndicate Bank panel

NDDB, 5 others declared PFIs; UTI-1 left out

HDFC raises Rs 1,000 cr

Centurion Bank cuts deposit rates

SBM gets new Managing Director