The Reserve Bank of India is forming a Technical Consultative Committee on Financial Markets to aid policy discussions, while experts highlight the importance of new data infrastructure steps.
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The Reserve Bank of India (RBI) will constitute a Technical Consultative Committee on Financial Markets to provide a structured forum for discussions on policy and operational matters related to financial markets.
The committee will facilitate consultations on issues concerning financial market development and operations.
Reacting to the policy, Prahlad Krishnamurthi, CEO, Probe42, said the RBI’s move comes alongside other measures on financial data infrastructure, including interoperability across Account Aggregators and richer consolidated account statements.
Krishnamurthi said the RBI’s steps on data infrastructure are significant in a tighter rate environment, as timely and verifiable borrower information becomes increasingly important for lenders and corporates assessing credit risk.Catch LIVE updates on RBI policy here