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FSDC Sub-Committee Reviews Major Developments That Impinge On Financial Stability Of country

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A meeting of the of the (FSDC) was held in yesterday. Shaktikanta Das, Governor, Reserve Bank of India, chaired the meeting. The meeting was attended by the members of the - Subhash Chandra Garg, Secretary, Ministry of Finance; Injeti Srinivas, Secretary, Ministry of Corporate Affairs; Dr. Krishnamurthy Subramanian, Chief Economic Advisor, Ministry of Finance; S. C. Khuntia, Chairman, of (IRDAI); Hemant G Contractor, Chairman, (PFRDA); Deputy Governors of the Reserve Bank - N. S. Vishwanathan, Viral V. Acharya, and Mahesh Kumar Jain; Shashank Saksena, Secretary, Financial Stability and Development Council; and Deepak Mohanty, of the Reserve Bank. Securities and Exchange Board of (SEBI) was represented by G. Mahalingam, Whole Time Member, while Insolvency and Bankruptcy Board of (IBBI) was represented by Navrang Saini, Whole Time Member.

The reviewed the major developments on the global and domestic fronts that impinge on the financial stability of the country. The Sub-Committee discussed ways to address challenges pertaining to the quality of credit ratings; and interlinkages between housing companies and housing developers. The Sub-Committee also deliberated on interlinking of various regulatory databases and National Strategy for Financial Inclusion (NSFI). Further, the Sub-Committee reviewed the functioning of (SLCCs) in various States / Union Territories (UTs), activities of its various Technical Groups, and a thematic study on financial inclusion and financial stability.

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First Published: Fri, March 15 2019. 14:45 IST