Overview

The Financial Markets Regulation Department (FMRD) has been set up on November 3, 2014 with a mandate to regulate, develop and oversee financial markets. The primary activities of the department include:

• Regulation and development of the money, government securities, foreign exchange markets and related derivative markets;

• Regulation and supervision of financial benchmarks for interest rates and foreign exchange markets;

• Development work related to financial market infrastructure for the money, government securities, foreign exchange markets and related derivative markets, including trade repository for over-the-counter(OTC) derivative transactions;

• Oversight / surveillance of the money, government securities, foreign exchange markets and related derivative markets; and

• Secretarial support to the Technical Advisory Committee on Money, Government Securities and Foreign Exchange Markets and RBI-SEBI Technical Committee on Interest Rate and Currency Futures.

In addition, a Market Intelligence Cell is proposed to be set up as part of FMRD.

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