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Panel on Financial Sector Assessment

Special Correspondent

MUMBAI: The Union Government, in consultation with the Reserve Bank of India (RBI), has constituted a Committee on Financial Sector Assessment with reference to the Handbook on the theme brought out in 1995 by the World Bank and the International Monetary Fund.

The committee, headed by Rakesh Mohan, Deputy Governor, with Ashok Jha, Secretary (Economic Affairs) of the Union Finance Ministry as Co-chairman, will, among other things, identify the appropriate areas, techniques and methodologies in the Handbook and other pertinent documents for financial sector assessment relevant in the "current and evolving context of the Indian financial sector," says an RBI release.

The committee may co-opt members depending upon the subject area of assessment under consideration and may also constitute Technical/Advisory groups to study and report on specific areas of assessment.

It will review its own status and report the progress to the Government of India and the Reserve Bank of India in six months from commencement of its work.

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