Reserve Bank of India Governor Shaktikanta Das chaired a meeting of the sub-committee of the Financial Stability and Development Council, in which major developments in the global and domestic economy as well as in various segments of the financial system were reviewed.
The routine exercise was held on Tuesday at the Reserve Bank of India, the apex bank said in a statement. Certain inter-regulatory issues were also discussed at the meeting.
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 and Union territories.
“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 RBI statement added.
The meeting was attended by the members of the Sub-Committee — Ajay Seth, Secretary, Department of Economic Affairs; Vivek Joshi, Secretary, Department of Financial Services; Manoj Govil, Secretary, Ministry of Corporate Affairs; Sanjay Malhotra, Officer on Special Duty and Secretary (Designate), Department of Revenue; V Anantha Nageswaran, Chief Economic Adviser; 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); Supratim Bandyopadhyay, Chairman, Pension Fund Regulatory and Development Authority (PFRDA).
Deputy Governors of the Reserve Bank – Mahesh Kumar Jain, Michael Debabrata Patra and T Rabi Sankar; and Executive Directors of the Reserve Bank – OP Mall and Saurav Sinha – were among the others who were part of the meeting.