RBI Constitutes New Financial Markets Committee to Review Liquidity, Resilience and Market Infrastructure

RBI Sets Up New Markets Panel

The Reserve Bank of India has formed the Technical Consultative Committee for Financial Markets, a body tasked with reviewing policy and operational matters concerning the country's financial markets. The central bank had signalled the move in its Statement on Developmental and Regulatory Policies on October 7, 2026, and formally announced the committee's constitution on November 4, 2026. Deputy Governor Rohit Jain, who oversees the Financial Markets Regulation Department, will chair the panel.

Seven external members drawn from banking, market infrastructure, financial organisations and academia will serve alongside the RBI leadership. They include Ananth Narayan, Shamsher Singh, Neeraj Gambhir, Shailendra Jhingan, Aditya Bagree, Nand Kishore and Ridham Desai. The committee is expected to meet at least once every quarter.

Scope Of The Mandate

The panel's remit spans money markets, government securities, foreign exchange markets, related derivatives and the infrastructure underpinning them. It will assess liquidity, efficiency and resilience, and study trading, clearing, settlement and reporting systems. Deepening and broadening these markets also falls within its brief, as does examining the rollout of central bank measures and spotting unintended market frictions. Domestic and international developments, along with emerging risks, will be reviewed.

Why It Matters For Business

Efficient and resilient markets affect how companies raise funds, manage treasury operations, hedge currency exposure and settle transactions. A formal consultation channel gives banks, institutions and market participants a structured way to flag operational bottlenecks and infrastructure gaps to the regulator. For compliance and finance teams, the committee's deliberations could shape market practices and infrastructure standards over time, though any concrete policy change would depend on subsequent RBI decisions.

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