TAC committee on financial markets meets at RBI

The 40th meeting of the Technical Advisory Committee (TAC) on Financial Markets was held today at Reserve Bank of India (RBI) central office here today under the chairmanship of Harun R Khan, deputy governor of RBI. Senior officials from RBI, representatives from the Ministry of Finance, the Securities Exchange Board of India (SEBI), the Insurance Regulatory & Development Authority (IRDA), in addition to academia, industry bodies, banks, exchanges, clearing corporation, Fixed Income Money Market and Derivatives Association of India (FIMMDA) and other market entities participated in the meeting.

The TAC reviewed the recent developments in money, government securities and foreign exchange markets and discussed various issues relating to the financial benchmarks, disclosure and reporting requirements for commercial papers (CP) and relaxations in the documentation-related requirements for hedging in the forex market.

 

It also also reviewed the recommendations of the Working Group on Interest Rate Options (Chairperson: Prof P.G. Apte) and Implementation Group on encouraging retail participation in government securities (Chairperson: Smt. Rekha Warriar). Further, it approved the constitution of a Standing Group under the TAC to suggest measures for compliance with global standards in the OTC derivative market.

RBI had reconstituted the Technical Advisory Committee on Money, Foreign Exchange and Government Securities Markets in April, 2015.