The Sub-Committee of the Financial Stability and Development Council (FSDC) met on Thursday in virtual format to have an extensive review of the major developments in the global and domestic economy as well as in various segments of the financial system. It discussed the “scenario emerging from the second wave of the Covid-19 pandemic,” and various inter-regulatory issues and reviewed the activities of various technical groups under its purview. “The members resolved to remain vigilant and proactive to ensure financial markets and financial institutions remained resilient in the face of fresh challenges brought on by the resurgence of the pandemic,” the RBI said in a statement.
RBI Governor headed FSDC sub-committee reviews developments in economy
The Sub-Committee also discussed scope for improvements in insolvency resolution under IBC, utilisation of data with the Central KYC Records Registry and changes in the regulatory framework relating to Alternative Investment Funds (AIFs) set up in the International Financial Services Centre (IFSC), among others. PTI
RBI Governor Shaktikanta Das
RBI Governor Shaktikanta Das headed Sub-Committee of the FSDC on Wednesday reviewed the major developments in the global and domestic economy as well as financial markets that impact financial stability, the central bank said in a statement.
The virtual meeting of the Sub-Committee of the Financial Stability and Development Council (FSDC) was attended by various regulators, including SEBI and IRDAI.