Regulators say will continue to coordinate on various initiatives to strengthen financial sector

Financial sector regulators, including the RBI and Sebi, on Monday reaffirmed their commitment to continue co-coordinating on various initiatives to strengthen the financial sector in these challenging times, the central bank said in a statement. "The regulators reaffirmed their commitment to continue co-coordinating on various initiatives and measures to strengthen the financial sector in these extraordinarily challenging times," the RBI said.

Financial sector regulators, including the RBI and Sebi, on Monday reaffirmed their commitment to continue co-coordinating on various initiatives to strengthen the financial sector in these challenging times, the central bank said in a statement. The statement, issued after the 25th meeting of the Sub-Committee of the Financial Stability and Development Council (FSDC), also said the panel reviewed the major developments in the global and domestic economy and financial markets that impinge on financial stability. The meeting of the FSDC Sub-Committee, held through video conferencing, was chaired by RBI Governor Shaktikanta Das. The FSDC Sub-Committee deliberated the issues relating to inter-regulatory coordination and reviewed the initiatives and activities of National Centre for Financial Education (NCFE), activities of various technical groups under FSDC-SC and functioning of State Level Coordination Committees (SLCCs) in various states/Union Territories. "The regulators reaffirmed their commitment to continue co-coordinating on various initiatives and measures to strengthen the financial sector in these extraordinarily challenging times," the RBI said. The meeting was attended Finance Secretary Ajay Bhushan Pandey; Ajay Prakash Sawhney secretary, Ministry of Electronics and Information Technology; Corporate Affairs Secretary Rajesh Verma; Economic Affairs Secretary Tarun Bajaj; and Chief Economic Adviser Krishnamurthy Subramanian. Sebi Chairman Ajay Tyagi; Irdai Chairman Subhash Chandra Khuntia; PFRDA Chairman Supratim Bandyopadhyay; IBBI Chairperson M S Sahoo and IFSCA Chairperson Injeti Srinivas, along with RBI Deputy Governors and senior officials of the central bank, also participated in the meeting.