HLCC on financial markets meets in New Delhi

A High Level Coordination Committee on Financial Markets today reviewed the impact of the global financial turmoil on the country's financial sector and the action taken to address emerging issues.

The meeting, chaired by the Reserve Bank Governor, D Subbarao, held in New Delhi and it also reviewed the developments in the domestic financial markets and policy agenda on the way forward, a statement said. The committee is a high-level forum for interface among financial sector regulators.

Finance Secretary Arun Ramanathan, Secretary, Economic Affairs, Ashok Chawla, Sebi Chairman C B Bhave, IRDA Chairman J Hari Narayan, PFRDA Chairman D Swarup and senior officials of the Finance Ministry, RBI, Sebi and IRDA attended the meeting, the release said.