RBI sets up financial markets advisory panel amid rapidly evolving market risks. Read the key points, why it matters and what businesses should watch next.
RBI Forms Panel To Advise On Market Risks
The Reserve Bank of India has set up a Technical Consultative Committee for Financial Markets, drawing in senior bankers, market specialists and industry representatives to advise it on how India's financial markets function, are regulated and withstand stress. The panel was announced in the RBI's Statement on Developmental and Regulatory Policies of October 7, 2026, and its creation reflects an effort to build a more organised channel of consultation with market participants as markets grow more complex and interconnected.
The committee will be led by the Deputy Governor overseeing the Financial Markets Regulation Department. Its external members include Ananth Narayan, a former whole-time member of SEBI and professor at IIT Bombay; Shamsher Singh, Chairman of FIMMDA and Deputy Managing Director at State Bank of India; Neeraj Gambhir, Executive Director at Axis Bank; Shailendra Jhingan of ICICI Bank; Aditya Bagree of Citibank India; Nand Kishore of the Clearing Corporation of India; and Ridham Desai of Morgan Stanley India.
Why It Matters For Businesses
The panel's remit covers money markets, government securities, foreign exchange and related derivatives, along with the infrastructure that supports them — trading, clearing, settlement and reporting. For companies and financial firms, this matters because the efficiency of these systems affects funding costs, hedging decisions and settlement certainty. The committee is also tasked with spotting unintended frictions arising from central bank measures, which could give market participants a route to flag practical difficulties caused by regulatory changes, rather than raising them individually.
The composition deliberately spans banks, market infrastructure institutions, research and securities markets, suggesting the RBI wants views from beyond a single segment or association. The committee is meant to be a standing forum rather than an occasional sounding board, with m…
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