 "RBI Deputy Governor T Rabi Sankar")
After having recently said the gaze of developed economies is now on Financial Benchmarks of India (FBIL), Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar has said the issue is recognising the financial infrastructure of the domestic agency. This comes after the derecognition by the European Securities and Markets Authority (ESMA) of Clearing Corporation of India (CCIL).
“The legal requirements of recognition of infrastructure — financial infrastructure — extend to FBIL because it is doing benchmarks. A similar sort of exercise (similar to the ESMA’s de-recognition of CCIL) is going on in FBIL as well. Which is why
