Overview
- The Reserve Bank of India formally set up the Technical Consultative Committee for Financial Markets on November 4, 2026 and named Deputy Governor Rohit Jain as chair.
- The committee includes seven external members drawn from banks, market associations, clearing infrastructure and global banks, including Ananth Narayan and Ridham Desai.
- Its remit covers money markets, government securities, foreign exchange and related derivatives and it will review trading, clearing, settlement and market reporting to boost efficiency and resilience.
- The panel will meet at least once every quarter and serves in an advisory role only; the RBI has not announced any immediate regulatory changes based on its creation.
- At the same time the RBI ordered NBFC-Account Aggregator interoperability and allowed depositories to include bank deposit data in Consolidated Account Statements via NBFC-AAs with a December 31, 2026 implementation target to improve customer data portability and consolidated reporting.