Distributed ledger technology needs close monitoring

Distributed ledger technology could challenge the practice of central clearing

There has been some debate in India recently on whether the regulatory function of Financial Market Infrastructures (FMI) should continue with the Reserve Bank of India (RBI). There have been recommendations by some committees that there should be an independent payments system regulator. There have also been recommendations that all financial markets (including money, forex and government securities, equities and commodities) should be with a unified market regulator and moved out of the RBI. 

The world over the central bank as the monetary authority, creates and destroys money and is also the lender of last resort, and hence is the