RBI reconstitutes advisory panel on FX, g-secs market

The Reserve Bank of India (RBI) has reconstituted its Technical Advisory Committee (TAC) on money, foreign exchange and government securities (g-secs) markets.

H R Khan, deputy governor, is chairman. The members include K L Prasad, economic advisor at the Union ministry of finance; Rajeev Kumar Agarwal, member, Securities and Exchange Board of India; Chitra Ramkrishna, managing director, National Stock Exchange; Ashishkumar Chauhan, MD, BSE exchange, and bankers Shikha Sharma, MD, Axis Bank, and Pramit Jhaveri, chief executive, Citi Bank.

The terms of reference are to review and recommend measures for deepening and widening the money, foreign exchange and g-secs markets. Also, to examine and advise on linkages among the money, forex and g-secs, and capital markets. It is to also consider papers on topics relating to product/market development and advise on policies and practices here.

It will meet at least once in a quarter and will function for two years from the date of its first meeting.

RBI first constituted a TAC on the money and g-secs markets in July 1999, to get feedback from market participants, academia, government, other financial sector regulators and so forth.

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