RBI Financial Markets Committee Formed With 7 Experts

The Reserve Bank of India has set up a Technical Consultative Committee for Financial Markets (TCCFM) with seven external experts. The RBI financial markets committee was announced on Wednesday, 4 November 2026, as a platform for “structured engagement between the central bank, market participants and other stakeholders”, Business Today reported.

The move follows the RBI’s Statement on Developmental and Regulatory Policies of 7 October 2026, which proposed the committee.

Who Is on the RBI Financial Markets Committee?

The committee is chaired by the RBI Deputy Governor overseeing the Financial Markets Regulation Department; the report does not name the Deputy Governor. The external members are Ananth Narayan (former SEBI whole time member and Professor of Practice at IIT Bombay), Ridham Desai (Managing Director, Morgan Stanley India), Shamsher Singh (FIMMDA Chairman and Deputy Managing Director, State Bank of India), Neeraj Gambhir (Executive Director, Axis Bank), Shailendra Jhingan (Head of Treasury and Economic Research, ICICI Bank), Aditya Bagree (Managing Director and Head of Markets, Citibank India) and Nand Kishore (Managing Director, Clearing Corporation of India Limited).

What Is the Committee’s Mandate?

It will identify measures to deepen and broaden the money, government securities, foreign exchange and related derivatives markets; examine trading, clearing, settlement and reporting mechanisms; review policy and operational challenges, including unintended market frictions; assess domestic and international developments and emerging risks; and consider issues the RBI refers to it.

Market and Trade Reaction

No market reaction was found in the source reviewed. The RBI has not announced any regulatory changes along with the committee.

What Happens Next?

The committee will meet at least once every quarter. Its recommendations could inform future policy discussions.

Frequently Asked Questions

What is the TCCFM?

The Technical Consultative Committee for Financial Markets, set up by the RBI to engage with market participants.

How often will it meet?

At least once every quarter.

How many external members does it have?

Seven.

Source: Business Today, 4 November 2026.