A meeting of the Sub-Committee of the Financial Stability and Development Council (FSDC) was held today in Mumbai. Dr. Urjit R. Patel, Governor, Reserve Bank of India, chaired the meeting. The meeting was attended by the members of the Sub-Committee: Shri Injeti Srinivas, Secretary, Ministry of Corporate Affairs, Shri Ajay Tyagi, Chairman, Securities and Exchange Board of India (SEBI), Shri Hemant G. Contractor, Chairman, Pension Funds Regulatory and Development Authority (PFRDA), Dr. M.S Sahoo, Chairperson, Insolvency and Bankruptcy Board of India (IBBI), Shri N.S. Vishwanathan, Dr. Viral V Acharya and Shri B.P Kanungo - Deputy Governors of the Reserve Bank, Dr. C.S. Mohapatra, Secretary, Financial Stability and Development Council and Dr. Deepak Mohanty, Executive Director, Reserve Bank.

The Sub-Committee reviewed the major developments on the global and domestic fronts that impinge on the financial stability of the country. The Sub-Committee discussed issues related to establishment of National Centre for Financial Education (NCFE), Operationalization of Information Utilities registered by IBBI, sharing of data among regulators and implementation status of Legal Entity Identifier (LEI). Further, the Sub-Committee reviewed the activities of its various Technical Groups and also the functioning of State Level Coordination Committees (SLCCs) in various States / UTs. The recommendations of the committees on FinTech and Digital Innovations, Shadow Banking Implementation Group and Stewardship Code were also discussed.

Jose J. Kattoor
Chief General Manager

Press Release : 2017-2018/1423