RBI sets up committee on financial benchmarks

The Reserve Bank of India today said that it has constituted a committee to study the various aspects of major financial benchmarks in India.

"In the context of the recent global developments relating to financial benchmarks and the related reforms implemented by various international agencies, there is a need to review the process of computation and dissemination of major financial benchmarks in India, the governance mechanisms in the institutions involved in computing the benchmarks and other related issues," the Reserve Bank of India has stated.

The Committee would be chaired by Executive Director, Shri P. Vijaya Bhaskar and it would have representation from select market participants, CCIL and academicia. Senior Officers from RBI (Financial Markets Department, Department of Banking Operations and Development, Legal Department) will also be members of the committee.

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