The Reserve Bank of India is establishing a Technical Consultative Committee for Financial Markets to engage participants. This timely forum will discuss policy and operational matters concerning money, government securities, foreign exchange markets, and their derivatives. Its crucial role is to provide the RBI with a closer ear to trading floors, enabling early identification of contagion effects and stability risks, which spread rapidly through financial markets. Policymakers require this integrated interface. The authors stress the committee must act purely as a market lens, avoiding mission creep, to effectively bolster financial stability and oversight.