FSDC sub-committee to keep focus on improving fincl sector resilience
This story was originally published at 20:25 IST on 5 September 2024
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MUMBAI – The sub-committee of the Financial Stability and Development Council resolved to continue its focus on improving the resilience of the financial sector through inter-regulatory coordination, at a meeting today, the Reserve Bank of India said in a press release. The committee will "remain watchful of emerging challenges to the economy and financial system, including those from global spillovers, cyber hazards, and climate change," RBI said.
The release stated that the sub-committee evaluated major global and domestic macroeconomic and financial developments, and issues relating to inter-regulatory coordination in the Indian financial sector. It also reviewed the activities of technical groups under its purview, and the functioning of state-level coordination committees. The panel also shared its assessments on potential risks and its implications on financial stability, RBI said in the press release.
The 31st meeting of the sub-committee of the Financial Stability and Development Council was chaired by Reserve Bank of India Governor Shaktikanta Das, and was attended by Securities and Exchange Board of India Chairperson Madhabi Puri Buch, Insurance Regulatory and Development Authority of India Chairperson Debasish Panda, Pension Fund Regulatory and Development Authority Chairperson Deepak Mohanty, International Financial Services Centres Authority Chairperson K. Rajaraman, and various secretaries of various ministries, among others.
The Financial Stability and Development Council, constituted in 2010, deals with issues relating to financial stability, financial sector development, inter–regulatory coordination, and financial literacy. End
Reported by Ashna Mariam George
Edited by Aditya Sakorkar
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