MUMBAI, Nov. 4 -- The Reserve Bank of India (RBI) has set up a consultative panel of senior bankers, market infrastructure executives and industry representatives to examine issues affecting the efficiency, liquidity and resilience of the country's financial markets, as the central bank seeks closer engagement with market participants amid rapidly evolving market structures.

The Technical Consultative Committee for Financial Markets (TCCFM) will be chaired by RBI deputy governor Rohit Jain, who oversees the Financial Markets Regulation Department (FMRD). Its external members include former Securities and Exchange Board of India (Sebi) whole-time member Ananth Narayan, the central bank said in a press release on Wednesday.

The panel also...