Financial Stability and Development Council to improve financial sector resilience through inter-regulatory coordination

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. Sanjay Malhotra, Governor, Reserve Bank of India, chaired the meeting. The Sub-Committee discussed major global and domestic macroeconomic and financial sector developments and various issues that may have financial stability implications. The Sub-Committee reviewed the progress in several inter-regulatory matters including simplification of KYC processes and special drives for financial inclusion. It also deliberated upon the National Strategy for Financial Inclusion (NSFI) 202530. The Sub-Committee also reviewed the functioning of State-Level Coordination Committees (SLCCs) in States and Union Territories and activities of various technical groups. The FSDC-SC reaffirmed its commitment to continue its focus on improving financial sector resilience through inter-regulatory coordination; and keeping a close watch on emerging challenges including those from heightened trade uncertainty and persisting geopolitical frictions.

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