New Delhi (14.01.2022): The FSDC sub-committee headed by Reserve Bank Governor Shaktikanta Das reviewed the economic situation in the backdrop of the COVID-19 pandemic and resolved to keep a close watch on the unfolding developments with a view to ensure financial stability.
“The members resolved to maintain a close watch on the unfolding developments and act proactively to ensure that financial institutions and financial markets remain resilient amidst the challenges posed by the resurgence of the pandemic,” the RBI said in a release.
The meeting was attended T V Somanathan, Finance Secretary and Secretary, Department of Expenditure, Ajay Seth, Secretary, Department of Economic Affairs, Tarun Bajaj, Secretary, Department of Revenue, Rajesh Verma, Secretary, Ministry of Corporate Affairs, Ajay Prakash Sawhney, Secretary, Ministry of Electronics and Information Technology, and Shashank Saksena, Secretary, Financial Stability and Development Council.
Other members of the Sub-Committee, including Ajay Tyagi, Chairman, Securities and Exchange Board of India (SEBI) and Supratim Bandyopadhyay, Chairman, Pension Fund Regulatory and Development Authority (PFRDA), also attended the meeting.
Vandita Kaul, Additional Secretary represented the Department of Financial Services; T Alamelu, Whole Time Member, Insurance Regulatory and Development Authority of India (IRDAI) and Navrang Saini, Chairman (Additional Charge), Insolvency and Bankruptcy Board of India (IBBI) attended the meeting on behalf of their respective institutions.