A meeting of the High Level Coordination Committee on Financial Markets (HLCCFM) was held today at the Reserve Bank of India (RBI), Mumbai. Dr. Y. V. Reddy, Governor, Reserve Bank of India chaired the meeting. Dr. D. Subba Rao, Finance Secretary, Government of India, Shri C.B.Bhave, Chairman, Securities and Exchange Board of India (SEBI), Shri J. Hari Narayan, Chairman, Insurance Regulatory and Development Authority (IRDA), Shri D. Swarup, Chairman, Pension Fund Regulatory and Development Authority (PFRDA) and other senior officials of the Ministry of Finance, RBI, SEBI and IRDA attended the meeting.

The HLCCFM is a high level forum for interface among the financial sector regulators. Although the HLCCFM meets occasionally, other technical committees/ groups formed among RBI, SEBI, IRDA and PFRDA as per its directions, meet to discuss and sort out issues relating to capital market exposure of regulated entities and developments in the financial markets having implications cutting across different regulators. Actions taken by these sub-committees are reported to the HLCCFM for further deliberations.

The Committee undertook the usual periodic review of the financial markets.

G. Raghuraj
Deputy General Manager