RBI reconstitutes TAC on Financial Markets

MUMBAI: The Reserve Bank reconstituted 18-member Technical Advisory Committee (TAC) on Money, Foreign Exchange and Government Securities Markets.

The reconstituted committee would include Reserve Bank's Deputy Governor Subir Gokarn, Economic Advisor, Department of Economic Affairs Anil Bisen, Securities & Exchange Board of India (SEBI) Whole time member Prashant Saran, and Insurance Regulatory and Development Authority (IRDA) member R K Nair among others.

"The terms of reference of the Committee are to review and recommend measures for deepening the money, foreign exchange and government securities markets," RBI said in a statement.

It would also examine and advise on the evolving and desirable linkages among the money, foreign exchange and government securities and capital markets.

The terms of reference would also include 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.

The TAC was last constituted in January 2009.