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Date : Apr 17, 2017
19th Meeting of the FSDC Sub-Committee – Mumbai

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 Ajay Tyagi, Chairman, Securities and Exchange Board of India (SEBI), Shri T. S. Vijayan, Chairman, Insurance Regulatory and Development Authority of India (IRDAI), Shri Hemant G. Contractor, Chairman, Pension Funds Regulatory and Development Authority (PFRDA), Deputy Governors of the Reserve Bank - Shri S.S. Mundra, Shri N.S. Vishwanathan and Shri B.P Kanungo and Dr. Deepak Mohanty, Executive Director. Ministry of Finance (MoF) was represented by Dr. C.S. Mohapatra, Adviser.

The Sub-Committee reviewed the major developments on the global and domestic fronts that impinge on the financial stability of the country. Status of implementation of recommendations of FSB Peer Review of India and the progress of Financial Sector Assessment Program (FSAP) 2017 were discussed in the meeting. Issues such as setting up of Computer Emergency Response Team for the Financial Sector (CERT-Fin), roadmap for National Centre for Financial Education (NCFE) and macroprudential framework in India were also discussed. Further, the Sub-Committee reviewed the activities of its various Technical Groups and the progress achieved on the decisions/ recommendations emanating from its earlier meetings.

Jose J. Kattoor
Chief General Manager

Press Release : 2016-2017/2800

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