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Market integrity: RBI expert group submits report

Our Bureau

MUMBAI, June 5

THE internal technical group on market integrity constituted by the Reserve Bank of India has submitted a report to the chairman of the standing committee on international financial standards and codes on May 30.

The report provides an assessment of India's position with respect to G-7 principles on Market Integrity and Recommendations of the financial action task force (FATF) on anti-money laundering and terrorist financing which serve as a benchmark in this regard, said an RBI press release.

It provides an overview of international efforts to combat money laundering for the purposes of detection and law enforcement against criminal activities in the financial sector, the release said.

The standing committee on international financial standards and codes in the RBI under the chairmanship of the Dr Y.V.Reddy, Deputy Governor, RBI, and with the Economic Affairs Secretary, as alternate chairman, had commissioned the group to identify and monitor developments in global standards and codes and to consider aspects of applicability of these standards to the Indian financial system.

The report on market integrity has been authored by three senior officials of the RBI, Mr C.R.Murlidharan, Dr Himanshu Joshi and Ms Indrani Banerjee.

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