The meeting of the sub-committee of the Financial Stability and Development Council (FSDC-SC) also discussed certain inter-regulatory issues.
The FSDC sub-committee headed by Reserve Bank of India (RBI) Governor Shaktikanta Das on Tuesday, November 15, reviewed the major developments in the global and domestic economy as well as in various segments of the financial system.
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The governor chaired the meeting of the sub-committee of the Financial Stability and Development Council (FSDC-SC), which was held at Mumbai. Certain inter-regulatory issues were also discussed.
Further, the sub-committee 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," RBI said.
The meeting was attended by the members of the sub-committee, Ajay Seth, Secretary, Department of Economic Affairs; Dr Vivek Joshi, Secretary, Department of Financial Services; Dr Manoj Govil, Secretary, Ministry of Corporate Affairs; Sanjay Malhotra, Officer on Special Duty and Secretary (Designate), Department of Revenue; and Dr V. Anantha Nageswaran, Chief Economic Adviser.
Other members of the sub-committee, including Dr Shashank Saksena, Senior Adviser and Secretary, Financial Stability and Development Council; Madhabi Puri Buch, Chairperson, Securities and Exchange Board of India (SEBI); Debasish Panda, Chairman, Insurance Regulatory and Development Authority of India (IRDAI) and Supratim Bandyopadhyay, Chairman, Pension Fund Regulatory and Development Authority (PFRDA), also attended the meeting.
Besides, deputy governors of RBI, Mahesh Kumar Jain, Dr Michael Debabrata Patra and T. Rabi Sankar; and executive directors of the Reserve Bank Dr O.P. Mall and Shri Saurav Sinha, participated in the meeting.