The sub-committee of the Financial Stability and Development Council (FSDC), the body of financial sector regulators and key officials of the Finance Ministry, on Thursday unanimously resolved that every participating regulator and the Finance Ministry will do whatever is necessary to revive the economy and preserve financial stability.
The sub-committee discussed about the proposal of setting up an Inter Regulatory Technical Group on Fintech and the National Strategy on Financial Education 2020-2025. In a meeting held via video conference, the panel also deliberated on the status and developments under the Insolvency and Bankruptcy Code 2016 and the working of credit rating agencies.
“Given the prevailing extraordinary circumstances, the Sub-Committee unanimously resolved that every participating regulator and ministry will continue to remain alert and watchful of the emerging challenges,” the sub-committee meeting chaired by RBI Governor Shaktikanta Das said.
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