Which of the following is NOT a component of RBI’s financial market regulation?

Commodity derivatives are regulated by SEBI, not RBI. According to the RBI's Financial Markets Regulation Department (FMRD), its regulatory purview includes: • Money Market: Regulates short-term borrowing and lending instruments like call money, commercial paper, and certificates of deposit. • Government Securities Market: Oversees the issuance and trading of central and state government bonds and treasury bills. • Foreign Exchange Market: Manages the market to ensure orderly development and maintenance of external trade and payments. • Payment and Settlement Systems: Regulates the infrastructure that facilitates the clearing and settlement of financial transactions.