Financial Stability and Development Council to continue its focus on improving financial sector resilience

A meeting of the Sub-Committee of the Financial Stability and Development Council (FSDC-SC) was held yesterday at the Reserve Bank of India, Mumbai. Shaktikanta Das, Governor, Reserve Bank of India chaired the meeting. The Sub-Committee reviewed major global and domestic macroeconomic and financial developments and issues relating to inter-regulatory coordination in the Indian financial sector. Members shared their assessments of potential risks to financial stability and discussed various issues that may have financial stability implications. The Sub-Committee also reviewed the activities of various technical groups under its purview, and the functioning of State-level Coordination Committees (SLCCs) in States/Union Territories (UTs). The FSDC-SC resolved to continue its focus on improving financial sector resilience through inter-regulatory coordination, while remaining watchful of emerging challenges to the economy and the financial system, including those from global spillovers, cyber hazards and climate change.

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