Informist, Thursday, Feb 15, 2024
NEW DELHI – Finance Minister Nirmala Sitharaman is likely to hold a meeting of the Financial Stability and Development Council on Wednesday to review the state of the economy, said a source aware of the meeting. The participants of the meeting would include Reserve Bank of India Governor Shaktikanta Das, Securities and Exchange Board of India Chairperson Madhabi Puri Buch, along with heads of other financial regulatory bodies.
This will be the first meeting of the Financial Stability and Development Council after the Parliament passed the Interim Budget for 2024-25 (Apr-Mar). The government had last held a meeting of the council in May, where the officials discussed the stability of the Indian economy in the backdrop of the failure of US-based Silicon Valley Bank and Signature Bank, and liquidity pressure faced by Credit Suisse.
The Financial Stability and Development Council, which was constituted in 2010, deals with issues relating to financial stability, financial sector development, inter–regulatory coordination, and financial literacy. It is chaired by the finance minister, and its members are finance secretary, economic affairs secretary, banking secretary, chief economic adviser to the government, RBI governor, and chairpersons of the Securities and Exchange Board of India, Insurance Regulatory and Development Authority, and Pension Fund Regulatory and Development Authority. End
Reported by Sagar Sen
Edited by Namrata Rao
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