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FSDC meet discusses economy, NBFC situation

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New Delhi, June 19 (IANS) In its first meeting after the Narendra Modi government came back to power, the Financial Stability and Development Council (FSDC) reviewed the current global and domestic economic situation and financial stability issues including those concerning banks and NBFCs.

The 20th meeting of the FSDC was held under the chairmanship of Finance Minister Nirmala Sitharaman.

“The Council also held consultations to obtain inputs/suggestions of the financial sector regulators for the Budget. All the regulators presented their proposals for the Union Budget 2019-20,” a Finance Ministry statement said.

The FSDC also took note of the activities undertaken by the its sub-committee chaired by the Reserve Banl of India Governor and the action taken by members on the decisions taken in earlier meetings of the Council.

“The Council was also apprised of the progress made towards setting-up of the Financial Data Management Centre (FDMC) to facilitate integrated data aggregation and analysis as also a Computer Emergency Response Team (CERT-Fin) towards strengthening the cyber security framework for the financial sector,” it said.

The meeting was also attended by Minister of State for Finance Anurag Thakur, RBI Governor Shaktikanta Das, and Finance Secretary Subhash Chandra Garg among others.



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