FSDC-SC commits to remain vigilant against any build-up in vulnerabilities

The sub-committee of the Financial Stability and Development Council (FSDC-SC) committed to maintaining a watchful stance regarding the emergence of vulnerabilities across various sectors of the Indian financial system and the broader economy, according to a release by the Reserve Bank of India (RBI).

The vigilance extends particularly to potential repercussions stemming from global influences in a continuously evolving and unpredictable global landscape. The objective remains to safeguard the stability of the financial system in order to foster robust, enduring and inclusive economic growth, the release said.

The sub-committee of the FSDC-SC members met at the RBI on Monday, chaired by Governor Shaktikanta Das. During this session, the sub-committee assessed significant worldwide and domestic macroeconomic and financial shifts. The agenda also encompassed matters pertaining to seamless collaboration among regulatory entities concerning the multifaceted activities within India's financial sector. Furthermore, a comprehensive evaluation of the operational efficacy of State Level Coordination Committees (SLCCs) across various states and union territories took place.