Reserve Bank sets up the Technical Consultative Committee for Financial Markets (TCCFM)

National Banking Economy & Banking

Reserve Bank sets up the Technical Consultative Committee for Financial Markets (TCCFM)

4 November 2026

The Reserve Bank of India has constituted the Technical Consultative Committee for Financial Markets (TCCFM). It was first announced in the Statement on Developmental and Regulatory Policies of October 7, 2026. The panel gives the RBI a regular forum to talk with market participants on money, government securities and foreign exchange markets, and on their derivatives and infrastructure. It will be chaired by the Deputy Governor in charge of the Financial Markets Regulation Department (FMRD). The external members include Ananth Narayan, a former Whole Time Member of SEBI, and Shamsher Singh, Chairman of FIMMDA. Its terms of reference cover liquidity and resilience of these markets, trading, clearing and settlement systems, and new risks from financial innovation. The committee is to meet at least once a quarter.

Committee: Technical Consultative Committee for Financial Markets (TCCFM) Chair: Deputy Governor in charge of FMRD Meetings: At least once a quarter

Why it matters for exams: RBI committees, its departments (FMRD) and the bodies of the bond and currency markets such as FIMMDA and CCIL are regular banking-exam questions.

Kerala PSCUPSCBank

4 November 2026 Source: Reserve Bank of India

In plain words

FMRD Financial Markets Regulation Department — The RBI department that regulates the money, government securities and foreign exchange markets.

FIMMDA Fixed Income Money Market and Derivatives Association of India — An association of banks and institutions active in the bond, money and derivatives markets.

CCIL Clearing Corporation of India Limited — The clearing and settlement house for government securities, money and forex deals.