Current Affairs - Banking - Discussion

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.