Inter-regulatory co-ordination Financial sector harmonisation among the securities, insurance, pension fund and bank regulators is enabled through the High Level Co-ordination Committee on Financial Markets (HLCCFM). The HLCCFM is headed by the Governor, RBI and meets as and when felt required. The Ministry of Finance provides the secretariat.
Sub-committees/groups formed among SEBI, IRDA, PFRDA and RBI, meet to discuss and sort out issues relating to developments in the financial markets having implications cutting across different regulators. Institutionalised and formal approach to decision making in a crisis has the benefit of building on the experience of the members.