|
A meeting of the Sub-Committee of the Financial Stability and Development Council (FSDC-SC) was held today at the Reserve Bank of India, Mumbai. Shri Sanjay Malhotra, Governor, Reserve Bank of India, chaired the meeting. The Sub-Committee deliberated on key global and domestic macroeconomic and financial sector developments, along with emerging issues bearing implications for financial stability. It also reviewed the progress in several inter-regulatory matters including simplification of KYC processes and regulatory impact assessment, with an emphasis on enhancing the quality, transparency and accountability of regulatory processes. The FSDC-SC reaffirmed its commitment to enhancing financial sector resilience through inter-regulatory coordination; and keeping a close watch on emerging challenges including those from heightened geopolitical frictions. The meeting was attended by the members of the Sub-Committee, Shri Tuhin Kanta Pandey, Chairperson, Securities and Exchange Board of India (SEBI); Shri Ajay Seth, Chairperson, Insurance Regulatory and Development Authority of India (IRDAI), Shri S Ramann, Chairperson, Pension Fund Regulatory and Development Authority (PFRDA), Shri K. Rajaraman, Chairperson, International Financial Services Centres Authority (IFSCA), Shri S. Krishnan, Secretary, Ministry of Electronics and Information Technology (MeitY); Shri V Vualnam, Secretary, Department of Expenditure (DoE), Dr. V. Anantha Nageswaran, Chief Economic Adviser; Ms. Aparna Sinha, Adviser, Department of Economic Affairs (DEA); Shri Ansuman Pattnaik, Additional Secretary, Ministry of Corporate Affairs (MCA), Deputy Governors of the Reserve Bank – Shri Swaminathan J., Dr. Poonam Gupta, Shri Shirish Chandra Murmu, Shri Rohit Jain and Dr. Ajit Ratnakar Joshi, Executive Director of the Reserve Bank. (Brij Raj) Press Release: 2026-2027/261 |
