The task force on offshore rupee markets was headed by ........

Economic and Social Issues International Funding institutions

The Reserve Bank of India has constituted a task force on offshore rupee markets to look into issues related to the markets and recommend appropriate policy measures to ensure the stability of the external value of the rupee."Offshore" refers to a location outside of one's national boundaries, whether or not that location is land- or water-based. Hence, Offshore Rupee market is a rupee denominated market in international market.The panel will study the causes behind the development of the offshore rupee market and examine the effects of the offshore markets on the rupee exchange rate and market liquidity in the domestic market.The panel will recommend measures to generate incentives for non-residents to access the domestic market and examine the role if any, International Financial Services Centres (IFSCs) can play in addressing these concerns.

The task force on offshore rupee markets, was headed by:

NS Vishwanathan

K.C.Chakrabarty

MK Jain

Usha Throat

Shyamala Gopinath

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Explanation:

The Task Force on Offshore Rupee Markets, set up by the Reserve Bank of India (RBI) in February 2019 and chaired by Smt. Usha Thorat, former Deputy Governor, RBI, submitted its report to the Governor recently. Usha Thorat, served as Deputy Governor of the Reserve Bank of India from 10 November 2005 to 8 November 2010. Prior to this she was the executive Director of the RBI.Usha Thorat has also been the Reserve Bank of India nominee on the boards of Bank of Baroda, Indian Overseas Bank and the Securities Trading Corporation of India.