Quick Summary
1. I am happy to be part of this FIMMDA1event today. I take this opportunity to place on record the RBIs appreciation of the key role played by FIMMDA in the development of financial markets in India. 2. In my address this evening, I propose to reflect upon some recent financial market developmen
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FAQ :
The RBI's approach is based on adapting to the needs of a modernising financial market as it integrates with the rest of the world, aiming for a simplified, principle-based regulatory framework.
Recent initiatives include the Benchmark Security Issuance Strategy, the framework for Sovereign Green Bonds, the RBI Retail Direct Scheme, and the introduction of the Request for Quote (RFQ) dealing mode on NDS-OM.
The resilience is attributed to robust macroeconomic fundamentals, proactive policy interventions, India's strong growth prospects, easing inflation, sustainable current account deficit, food security, strong foreign exchange reserves, and a sound banking system.
Market bodies like FIMMDA act as bridges between market participants and the regulator, conveying market views and providing timely inputs for policy making.
The RBI expects market participants to take the reform agenda forward, improve service delivery to retail customers, ensure liquidity for retail investors, and adopt prudent practices in using complex financial products.
The RBI aims to anchor expectations and allow the exchange rate to reflect fundamentals rather than overshoot, avoiding undue volatility through regular market operations and ensuring exchange rate stability as an element of macroeconomic stability.
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