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Press Information Bureau

Government of India
Ministry of Finance
07-Nov-2019 16:36 IST

Finance Minister chairs the 21st meeting of the Financial Stability and Development Council (FSDC)

The 21st meeting of the Financial Stability and Development Council (FSDC) was held in New Delhi today
under the chairmanship of the Union Minister of Finance and Corporate Affairs, Smt Nirmala
Sitharaman.

The Council reviewed the current macroeconomic situation of the country at the global level as well. Not
only this , the Council also reviewed issues related to financial stability and NBFCs and credit rating
agencies among other things.

The Council earlier reviewed the steps taken by its members on the decisions taken by FSDC. The Council
meeting discussed the resolution framework as well as proposals to strengthen the financial sector's
cyber security related framework.

The Council looked into the various functions undertaken by the FSDC sub-committee headed by the
Governor of RBI, as well as initiatives by various regulators of the financial sector.

The meeting was attended by Shri Shaktikanta Das , Governor, Reserve Bank of India; Shri Atanu
Chakraborty, Secretary, Department of Economic Affairs; Shri Rajiv Kumar, Finance Secretary and
Secretary, Department of Financial Services; Shri Injeti Srinivas, Secretary, Ministry of Corporate Affairs;
Shri Ajay Bhushan Pandey, Revenue Secretary; Shri Ajay Prakash Sahni, Secretary, Ministry of
Electronics and Information Technology; Dr. Krishnamurthy V. Subramanian, Chief Economic Advisor,
Ministry of Finance; Shri Ajay Tyagi, Chairman, Securities and Exchange Board of India; Mr. Subhash
Chandra Khuntia, Chairman, Insurance Regulatory and Development Authority of India; Dr. M.S. Sahu,
Chairman, Insolvency and Bankruptcy Board of India; Shri Ravi Mittal, Special Secretary, Department of
Financial Services and In-Charge, Chairperson, Pension Fund Regulatory and Development Authority;
And the regulators of the financial sector and other senior officials of the Government of India
participated.

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आरकेमीणा/आरएनएम/एएम/आरआरएस/वाईबी -4068