The Reserve Bank of India has named seven external members to its Technical Consultative Committee for Financial Markets, with Deputy Governor in charge of Financial Markets Regulation Department as chair the panel, the central bank said on Wednesday.

The committee will provide a forum for structured engagement with market participants on policy and operational matters relating to money, government securities and foreign exchange markets, including their respective derivatives and infrastructure.

The external members are Ananth Narayan, former whole-time member of the Securities and Exchange Board of India and professor of practice at IIT Bombay; Shamsher Singh, chairman of the Fixed Income Money Market and Derivatives Association of India and deputy managing director of State Bank of India; Neeraj Gambhir, executive director at Axis Bank; and Shailendra Jhingan, head of treasury and economic research at ICICI Bank.

The other members are Aditya Bagree, managing director and head of markets at Citibank India; Nand Kishore, managing director of Clearing Corporation of India; and Ridham Desai, managing director at Morgan Stanley India.

The committee will examine issues relating to the functioning, efficiency, liquidity and resilience of money, government securities, foreign exchange and related derivatives markets, including measures to deepen and broaden these markets.

Its mandate will also cover trading, clearing, settlement, reporting and other market infrastructure, along with the associated regulatory and operational frameworks.

The panel will examine emerging policy and operational issues affecting financial markets, including the implementation of RBI measures and identification of unintended market frictions. It will also consider domestic and international developments, financial innovations and emerging risks that could affect Indian financial markets.

The RBI may also refer specific market issues or macroeconomic considerations to the committee.

The committee will meet at least once every quarter, the central bank said.

The RBI had announced its decision to constitute the committee in its October 7 Statement on Developmental and Regulatory Policies, saying its composition and terms of reference would be notified separately.