The FSDC Meeting was also attended by Shri Anurag Thakur, MoS (Finance &Corporate Affairs), Shri Shaktikanta Das, Governor, Reserve Bank of India (RBI); Shri Subhash Chandra Garg, Finance Secretary and Secretary, Department of Economic Affairs; Shri Rajiv Kumar, Secretary, Department of Financial Services; Shri Injeti Srinivas, Secretary, Ministry of Corporate Affairs; Shri Ajay Bhushan Pandey, Revenue Secretary; Dr. Krishnamurthy V. Subramanian, Chief Economic Adviser, Ministry of Finance; Shri Ajay Tyagi, Chairman, Securities and Exchange Board of India; Shri Subhash Chandra Khuntia, Chairman, Insurance Regulatory and Development Authority of India(IRDAI); Dr. M. S. Sahoo, Chairperson, Insolvency and Bankruptcy Board of India (IBBI); Shri Ravi Mital, Additional Secretary, Department of Financial Services & in charge, Chairperson, Pension Fund Regulatory and Development Authority(PFRDA); and other senior officers of the Government of India and the Financial Sector Regulators.
The Meeting reviewed the current global and domestic economic situation and financial stability issues including, inter-alia, those concerning Banking and NBFCs.
The Council was also apprised of the progress made towards setting-up of the Financial Data Management Centre (FDMC) to facilitate integrated data aggregation and analysis as also a Computer Emergency Response Team (CERT-Fin) towards strengthening the cyber security framework for the financial sector.
The Council also held consultations to obtain inputs/ suggestions of the financial sector regulators for the Budget. All the regulators presented their proposals for the Union Budget 2019-20.
The Council also took note of the activities undertaken by the FSDC Sub-Committee Chaired by Governor, RBI and the action taken by Members on the decisions taken in earlier Meetings of the Council.
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