New Delhi [India], November 4 (ANI): The Reserve Bank of India (RBI) has established a Technical Consultative Committee for Financial Markets (TCCFM) to boost engagement with the market participants, as per a statement by the apex bank. 

This committee aims to address policy and operational matters concerning money, government securities, foreign exchange and derivatives markets, the RBI said in the release.

"In pursuance of the announcement made in the Statement on Developmental and Regulatory Policies dated October 7, 2026, the Reserve Bank of India announces the constitution of the Technical Consultative Committee for Financial Markets (TCCFM) against the backdrop of rapidly evolving financial markets and infrastructure," the central bank said. 

As per the release, the committee's terms of reference include examining issues related to the functioning, efficiency, liquidity and resilience of money, government securities, foreign exchange and derivative markets, along with measures to deepen and broaden these markets. 

It will also review trading, clearing, settlement, reporting and market infrastructure, assess emerging policy and operational challenges, identify unintended market frictions, and examine domestic and international developments, financial innovations and emerging risks affecting Indian financial markets. 

Apart from this, the committee will also consider specific market issues and macroeconomic concerns referred by the RBI and will meet at least once every quarter.

"The meetings of the Committee will be convened at least once a quarter," it said. 

As per the release, the committee will be chaired by the RBI Deputy Governor in charge of the Financial Markets Regulation Department (FMRD). Its seven external members include Ananth Narayan, former Whole Time Member of SEBI and Professor of Practice at IIT Bombay; Shamsher Singh, Chairman of FIMMDA and Deputy Managing Director at SBI; Neeraj Gambhir, Executive Director at Axis Bank; Shailendra Jhingan, Head of Treasury and Economic Research at ICICI Bank; Aditya Bagree, Managing Director and Head of Markets at Citibank India; Nand Kishore, Managing Director of the Clearing Corporation of India Limited; and Ridham Desai, Managing Director at Morgan Stanley India. (ANI)