FM to take stock of fiscal situation at FSDC meeting tomorrow

Finance Minister Arun Jaitley will take stock of the country's economic and fiscal situation tomorrow when he meets financial sector regulators at the FSDC meeting.
The Financial Stability and Development Council meeting will be attended by financial sector regulators including RBI and SEBI to review global and domestic factors that might impact the country.
FSDC is likely to take stock of the economy, inflation, fiscal and external sector situation as well as foreign capital flows, regulatory coordination and developments in financial markets, sources said.
The meeting will deliberate on possible Fed rate hike and its impact on capital outflow from the country.

Reserve Bank Governor Raghuram Rajan, Securities and Exchange Board of India Chairman U K Sinha, insurance regulator IRDA Chairman T S Vijayan, pension regulator PFRDA Chairman Hemant G. Contractor and Forward Markets Commission Chairman Ramesh Abhishek.
Besides, sources said, issues related to bad loans and low credit off-take in the economy could also come up for discussion.

As per RBI data, gross NPAs of PSU banks have gone up to Rs 2,60,531 crore as on December, 2014.
The top 30 defaulters have been sitting on bad loans of Rs 95,122 crore, which is more than one-third of the entire non-performing assets of public sector banks as of December 2014. In terms of percentage, it amounts to 36.5 per cent.

The total number of NPA borrowers having Rs 10 crore and above at the end of September 2014 stood at 2,897 with outstanding amount of Rs 1,60,164 crore.
Gross NPAs of public sector banks rose sharply to 5.33 per cent in September 2014 as compared to 4.72 per cent of total advances at the end of March 2014.
In the sub-committee meeting chaired by RBI Governor last month, capital requirements of the banks and measures to deepen bond markets were discussed.
The sub-committee had also deliberated upon matters relating to account aggregation facility, capital requirement of banks, and measures to deepen the credit default swap market.