A meeting of the Sub-Committee of the Financial Stability and Development Council (FSDC-SC) was held today at Reserve Bank of India, Mumbai. Shri Shaktikanta Das, Governor, Reserve Bank of India, chaired the meeting.

The Sub-Committee reviewed the major developments in the global and domestic economy as well as in various segments of the financial system. It discussed certain inter-regulatory issues.

The Sub-Committee also reviewed the activities of various technical groups under its purview and the functioning of State Level Coordination Committees (SLCCs) in various States/ UTs. The members resolved to remain vigilant and proactive to ensure that financial markets and financial institutions remained resilient amidst the spillovers arising from evolving global macroeconomic situation.

The meeting was attended by the members of the Sub-Committee – Shri Ajay Seth, Secretary, Department of Economic Affairs; Dr. Vivek Joshi, Secretary, Department of Financial Services; Dr. Manoj Govil, Secretary, Ministry of Corporate Affairs; Shri Sanjay Malhotra, Officer on Special Duty & Secretary (Designate), Department of Revenue; Dr. V. Anantha Nageswaran, Chief Economic Adviser; Dr. Shashank Saksena, Senior Adviser and Secretary, Financial Stability and Development Council; Ms. Madhabi Puri Buch, Chairperson, Securities and Exchange Board of India (SEBI); Shri Debasish Panda, Chairman, Insurance Regulatory and Development Authority of India (IRDAI); Shri Supratim Bandyopadhyay, Chairman, Pension Fund Regulatory and Development Authority (PFRDA); Deputy Governors of the Reserve Bank - Shri Mahesh Kumar Jain, Dr. Michael Debabrata Patra and Shri T. Rabi Sankar; and Executive Directors of the Reserve Bank - Dr. O. P. Mall and Shri Saurav Sinha.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2022-2023/1208