RBI reconstitutes money market advisory panel
By The scope of the Committ | 03 Mar 2004
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.