RBI governor meets with FSDC Sub-Committee to review economic developments and assess scenarios emerging from the third wave

14 Jan 2022 , 12:28 PM

The Reserve Bank of India (RBI) governor Shaktikanta Das chaired a meeting of the Financial Stability and Development Council (FSDC) Sub Committee (FSDC-SC).

The Sub-Committee reviewed the major developments in the global and domestic economy as well as in various segments of the financial system and discussed the assessments of members about the scenario emerging from the third wave of the COVID-19 pandemic.

Also, the FSDC-SC discussed various inter regulatory issues and matters relating to the use of Aadhaar based e-KYC and Aadhaar Enabled Payment System by regulated entities.

The FSDC-SC reviewed the activities of various technical groups under its purview and the functioning of State Level Coordination Committees (SLCCs) in various states / UTs.

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.