To further the participatory process in a more holistic manner by taking into account all segments of the financial markets, the ambit of the Technical Advisory Committee (TAC) on Money and Securities Markets set up by RBI in 1999 has been expanded in 2004 to include forex markets and the Committee has been renamed as TAC on Money, Securities and Forex Markets.
First, it maintains confidence in the solvency and safety of individual institutions. Second, it protects and informs consumers. Although the Central Bank’s and Financial Regulator’s roles in contributing to financial stability are different, they are complementary and combine to deliver a comprehensive approach to stability issues. There are various joint initiatives between the Central Bank and Financial Regulator, where our technical expertise is pooled.