Recognising the need for a robust interest rate futures market as an  18  BIS Review 51/2007  effective instrument for management of interest rate risk, a Working Group is being set up to go into all the relevant issues and to suggest measures to facilitate the development of the interest rate futures market.
As the capital account is gradually opened further the Reserve Bank has taken several initiatives to provide a more conducive environment for the conduct of foreign exchange business. The prime concern has been to provide prompt and efficient customer service by progressively liberalising foreign exchange related transactions, removing restrictions and simplifying procedures.