CURRENT AFFAIRS QUIZ - 2019
Who has formed an internal committee to review timings of different financial markets?
A)
Reserve Bank of India
B)
RBL Bank
C)
Ministry of Finance
D)
Insurance Regulatory and Development Authority

Correct Answer : Option (A) - Reserve Bank of India

Note : Reserve Bank of India (RBI) has formed an internal committee to review timings of different financial markets. It change the timing of the functioning of the foreign exchange market from 9 am to 9 pm. Currently, the currency market works from 9 am to 5 pm. The move is after RBI's consideration to gauge demand and potential benefits. RBI also said that if there is lack of demand from participants, the current market timings for government security markets may be retained. The move is after RBI's consideration to gauge demand and potential benefits. This extension of market timings is expected to provide various benefits like better pricing of post market hours information/data, improved onshore price discovery and a possible shift of offshore volumes to onshore. It is also understood that the extension might entail higher costs to stakeholders.