FSDC sub-committee meets virtually to take stock of Covid-19 situation

Discussed scenario emerging from second wave and various inter-regulatory issues; reviewed activities of various technical groups under its purview

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.

The meeting was chaired by RBI governor Shaktikanta Das and was attended by heads of all regulators, senior RBI officials, as well as various Secretaries of the central government.