Financial Stability and Development Council deliberates on emerging issues bearing implications for financial stability

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 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.

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