Nirmala Sitharaman Chairs 30th FSDC Meeting On Financial Stability, Regulatory Coordination

New Delhi, Oct 24 (KNN) Union Finance Minister Nirmala Sitharaman on Friday chaired the 30th meeting of the Financial Stability and Development Council (FSDC) in New Delhi, bringing together senior government officials, the Reserve Bank of India (RBI) Governor and heads of key financial sector regulators.

According to a post by the Ministry of Finance on social media, the meeting was attended by the secretaries of the Department of Economic Affairs, Department of Revenue and Department of Financial Services, along with the Chief Economic Adviser to the government.

The meeting also saw participation from the chairpersons of the Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority of India (IRDAI), International Financial Services Centres Authority (IFSCA), Pension Fund Regulatory and Development Authority (PFRDA) and Insolvency and Bankruptcy Board of India (IBBI).

Senior officials from the Ministry of Electronics and Information Technology (MeitY) and the Indian Computer Emergency Response Team (CERT-In) were also present, reported ANI.

Focus On Financial Stability And Regulatory Coordination

The FSDC is the government’s apex-level forum for deliberations on financial stability, financial sector development and coordination among financial regulators.

Its mandate also covers financial literacy, financial inclusion and macroprudential supervision, including oversight of the functioning of large financial conglomerates.

Constituted through a government notification dated December 30, 2010, the council is chaired by the Union Finance Minister and includes the RBI Governor, senior Finance Ministry officials and heads of key financial regulators.

The council and its subcommittee, chaired by the RBI Governor, deliberate on issues raised by members concerning financial stability, regulatory coordination and financial sector development, and recommend appropriate measures where required.

(KNN Bureau)