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FSDC sub-committee reviews economic scenario

13 Jan 2022, 23:18 GMT+10

Mumbai [India], January 13 (ANI): A sub-committee of the RBI's Financial Stability and Development Council (FSDC) met under the chairmanship of Reserve Bank of India Governor Shaktikanta Das to review major developments in the global and domestic economy.

"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," RBI said in a statement.

The committee also discussed various inter-regulatory issues and matters relating to the use of Aadhaar based e-KYC and Aadhaar Enabled Payment System by regulated entities.

It 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, the RBI said.

The meeting was held virtually. (ANI)

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