The Reserve Bank of India announced the creation of a Technical Consultative Committee for Financial Markets on Wednesday. RBI Deputy Governor Rohit Jain heads the new advisory body.
The committee will serve as a structured platform for direct engagement with key market stakeholders. It will focus on policy and operational issues in financial markets.
The panel will cover money, government securities, and foreign exchange markets. It will also oversee their respective derivative segments and related underlying infrastructure.
Seven external members represent banks, clearing bodies, and financial services firms. Ananth Narayan, Shamsher Singh, and Neeraj Gambhir join the panel alongside other industry leaders.
The committee will meet at least once every quarter. Members will examine market efficiency, liquidity, and resilience while working to broaden Indian financial markets.
They will identify market frictions and evaluate international developments. The panel will also monitor financial innovations and emerging risks affecting domestic systems.
The central bank may refer specific macroeconomic issues to the group. The initiative aims to align regulatory frameworks with rapidly evolving market practices.
Separately, the central bank announced full interoperability among NBFC-Account Aggregators. The move will enhance overall customer convenience across different financial information providers.
Customers can now access and share financial information through any aggregator. SEBI-regulated depositories will also integrate bank deposit data into Consolidated Account Statements.
This integration allows demat account holders to view complete holdings in one place. Customers without demat accounts can still access consolidated information through aggregators.
Both regulatory initiatives will take effect by December 31, 2026. The measures reflect the RBI’s ongoing efforts to streamline financial services.
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