RBI Governor Heads FSDC Sub-Committee, Reviews Financial Developments
The Sub-Committee also reviewed the activities of various technical groups under its purview and the functioning of State-level Coordination Committees in states/Union territories .
Reserve Bank Governor Shaktikanta Das headed the Sub-Committee of the Financial Stability and Development Council on Thursday reviewed global and domestic macroeconomic and financial developments.
It also reviewed issues relating to inter-regulatory coordination in the Indian financial sector, the RBI said in a statement after the 31st meeting of the FSDC Sub-Committee.
"Members shared their assessments of potential risks to financial stability and discussed various issues that may have financial stability implications," it said.
The Sub-Committee also reviewed the activities of various technical groups under its purview and the functioning of State-level Coordination Committees in states/Union territories .
It resolved to continue its focus on improving financial sector resilience through inter-regulatory coordination, while remaining watchful of emerging challenges to the economy and the financial system, including those from global spillovers, cyber hazards and climate change.
The meeting was attended by the members of the Sub-Committee - Madhabi Puri Buch (Chairperson, Securities And Exchange Board Of India), Debasish Panda (Chairperson, Insurance Regulatory and Development Authority of India), Deepak Mohanty (Chairperson, Pension Fund Regulatory and Development Authority.), K Rajaraman ( Chairperson, International Financial Services Centres Authority).
S Krishnan, Secretary, Ministry of Electronics and Information Technology; Sanjay Malhotra, Secretary, Department of Revenue; Deepti Gaur Mukerjee, Secretary, Ministry of Corporate Affairs; Nagaraju Maddirala, Secretary, Department of Financial Services; and Shashank Saksena, Secretary, Financial Stability and Development Council were also present.
Deputy governors of the Reserve Bank Michael Debabrata Patra, M Rajeshwar Rao, T Rabi Shankar, Swaminathan J; and O P Mall, Executive Director of the RBI also attended the meeting.
