FSDC's sub-committee discusses global, domestic developments

A sub-committee of FSDC headed by RBI Governor Raghuram Rajan today reviewed major developments on global and domestic fronts that impinge on the financial stability of the country.
The sub-committee of Financial Stability and Development Council (FSDC) also discussed issues regarding the proposed bill on setting up of a statutory Financial Data Management Centre, Minimum Assured Return Scheme under the National Pension System (NPS) and regulation of spot exchanges.
Reports of the FSB Peer Review of India and the Working Group on Development of Corporate Bond Market in India were other topics discussed at the meeting, Reserve Bank said in a statement.

"The meeting also reviewed the functioning of the State Level Co-ordination Committees (SLCCs) in various States/ Union Territories, the activities of the various Technical Groups of the Sub-Committee and the progress achieved on the decisions/ recommendations emanating from the earlier meetings of the Sub-Committee," it added.
Members of the sub-committee -- Ashok Lavasa, Finance Secretary, T S Vijayan, Chairman of Insurance Regulatory and Development Authority of India (IRDAI), and Hemant G Contractor, Chairman of Pension Funds Regulatory and Development Authority (PFRDA) -- attended the meeting.
RBI deputy governors Urjit Patel and N S Vishwanathan also attended the meeting.