Integrated market surveillance system

AUG 6

Preliminary   > Economic Development   >   Indian Economy and Issues   >   Regulatory bodies

IN NEWS:

  • Tata Consultancy Services and two other vendors have been shortlisted for implementation of Integrated Market Surveillance System, according to an RBI document.

About the system:

  • RBI has proposed to implement a robust Integrated Market Surveillance System for augmenting its surveillance capacities.
  • As per the EOI, the major requirements for IMSS include capability to identify market abuse and generate alerts by processing large number of data points across products and markets.
  • IMSS will also be able to:
    • Track market developments and monitor macroeconomic parameters
    • Have a dashboard to focus on specific products or markets
  • Market surveillance for products ensures that products on the market conform to applicable laws and regulations.
  • This helps foster trust from consumers buying products or financial services.

PRELIMS QUESTION

Integrated market surveillance system is a proposed market surveilance system by:    
(a)RBI
(b)SEBI
(c)IRDA
(d)Competition Commission

Answer to prelims question