Press Releases - ربی - Reserve Bank of India
Press Releases
Press Releases |
January 2009 |
RBI reconstitutes TAC on Financial Markets |
January 19, 2009 |
The Reserve Bank of India has reconstituted the Technical Advisory Committee (TAC) on Money, Foreign Exchange and Government Securities Markets. The composition of the reconstituted TAC is: |
Chairman |
Members |
2.Dr. Arvind Virmani |
3.Shri M. S. Sahoo |
4.Dr. R. Kannan |
5.Dr. R. H. Patil |
6.Shri Gagan Rai |
7.Shri Ravi Narain |
8.Shri C. Narsimhan |
9.Shri N. Mohan Raj |
10. Shri Uday Kotak, |
11.Shri M. Narendra Executive Director Bank of India |
12.Ms. Meera Sanyal Executive Vice President & Country Executive ABN-AMRO Bank |
13.Shri V. Srikanth Chairman Fixed Income Money Market and Derivatives Association of India (FIMMDA) |
14. Shri R. N. Vadivelu |
15. Shri A. P. Kurian |
16. Shri Jayesh Mehta |
|
17.Prof. Susan Thomas Indira Gandhi Institute of Development Research |
18.Dr. T. T. Ram Mohan |
19. Dr. Errol D’souza |
20. Shri Deepak M. Satwalekar |
21. Shri Amit Tandon |
Deputy Governor(s); Executive Directors in-charge of Financial Markets Department (FMD), Internal Debt Management Department (IDMD), Department of External Investments and Operations (DEIO) and Monetary Policy Department (MPD); and Heads of FMD, IDMD, DEIO, MPD, Department of Economic Analysis & Policy (DEAP), Foreign Exchange Department (FED); and Regional Director, Maharashtra and Goa of Reserve Bank of India will be permanent invitees. |
The terms of reference of the Committee are: |
i. to review and recommend measures for deepening and widening the money, foreign exchange and government securities markets including those relating to participants, products, institutional and infrastructural arrangements, etc.; |
ii. to suggest measures for development of market and promoting liquidity in money market instruments, foreign exchange market and government securities; |
iii. to examine and advise on the evolving and desirable linkages among the money, foreign exchange and government securities and capital markets; |
iv. to review the infrastructure, legal and institutional arrangements for trading, transfer and settlement in the money, foreign exchange and government securities markets; |
v. to prepare and consider papers on topics relating to product/market development and advise on the policies and practices for the same; |
vi. to review the qualitative and quantitative aspects of risk management, accounting, disclosure, settlement, legal framework, etc., in the money, foreign exchange and government securities markets and render advise; and |
vii. to examine any other relevant issue having a bearing on these markets referred to it, by RBI. |
The Committee may appoint Technical Groups consisting of its own members and/ or outside experts to study and submit recommendations on specific issues, if necessary. The Committee will meet as often as it is required, but at least once in a quarter and will function for two years from the date of its first meeting. |