RBI panel reviews factors that could impact country's financial stability

A FSDC sub-committee, headed by RBI Governor Urjit R Patel, on Thursday reviewed the major global and domestic developments which could impinge on the country's financial stability.

It also discussed the setting up of the National Centre for Financial Education (NCFE), operationalisation of information utilities registered by the IBBI, sharing of data among regulators and the implementation status of Legal Entity Identifier (LEI), Reserve Bank of India said in a statement.

Besides, it reviewed the activities of its various technical groups as well as the functioning of State Level Coordination Committees (SLCCs).

The statement further said that the recommendations of the committees on FinTech and digital innovations, shadow banking implementation group and Stewardship Code were also discussed at the sub-panel of the Financial Stability and Development Council (FSDC).

The meeting was attended by Ministry of Corporate Affairs Secretary Injeti Srinivas; Securities and Exchange Board of India (SEBI) Chairman Ajay Tyagi; Pension Funds Regulatory and Development Authority (PFRDA) Hemant G Contractor; Insolvency and Bankruptcy Board of India (IBBI) M S Sahoo; Deputy Governors of the Reserve Bank N S Vishwanathan, Viral V Acharya, B P Kanungo; FSDC Secretary C S Mohapatra and, RBI Executive Director Deepak Mohanty.