RBI reconstitutes money market advisory panel

Mumbai: 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 head 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.