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The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman chairing the 24th meeting of Financial Stability and Development Council (FSDC), in New Delhi on September 03, 2021. The Minister of State for Finance, Shri Pankaj Chaowdhary and the Governor, Reserve Bank of India, Shri Shaktikanta Das are also seen.

Finance Minister Smt. Nirmala Sitharaman chairs 24th meeting of Financial Stability and Development Council

in National September 3, 2021 Comments Off on Finance Minister Smt. Nirmala Sitharaman chairs 24th meeting of Financial Stability and Development Council 315 Views

Newdelhi:3/9/21:Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman chaired the 24th meeting of the Financial Stability and Development Council (FSDC) here today.

Themeeting was attended by Dr. Bhagwat Kishanrao Karad, MoS (Finance); Shri Pankaj Chaudhary, MoS (Finance); Shri Shaktikanta Das, Governor, Reserve Bank of India; Dr. T. V. Somanathan, Finance Secretary and Secretary, Department of Expenditure, Ministry of Finance; Shri Ajay Seth, Secretary, Department of Economic Affairs, Ministry of Finance; Shri Tarun Bajaj, Secretary, Department of Revenue, Ministry of Finance; Shri Debasish Panda, Secretary, Department of Financial Services, Ministry of Finance; Shri Rajesh Verma, Secretary, Ministry of Corporate Affairs; Dr. Krishnamurthy V. Subramanian, Chief Economic Adviser, Ministry of Finance; Shri Ajay Tyagi, Chairperson, Securities and Exchange Board of India; Shri Supratim Bandyopadhyay, Chairperson, Pension Fund Regulatory and Development Authority; Dr. M. S. Sahoo, Chairperson, Insolvency and Bankruptcy Board of India; Shri Injeti Srinivas, Chairperson, International Financial Services Centres Authority; Ms. T. L. Alamelu, Member (Non-Life), Insurance and Regulatory Development Authority of India; and the Secretary of the FSDC, Department of Economic Affairs, Ministry of Finance.

The meeting deliberated on the various mandates of the FSDC, viz., Financial Stability, Financial Sector Development, Inter-regulatory Coordination, Financial Literacy, Financial Inclusion, and Macroprudential supervision of the economy including the functioning of large financial conglomerates etc.

It was noted that there is a need to keep a continuous vigil by Government and all regulators on the financial conditions.

The Council also, inter alia, discussed issues relating to management of stressed assets, strengthening institutional mechanism for financial stability analysis, financial inclusion, framework for resolution of financial institutions and issues related to IBC processes, banks’ exposure to various sectors and Government, data sharing mechanisms of government authorities, internationalisation of Indian Rupee and pension sector related issues.

The Council also took note of the activities undertaken by the FSDC Sub-Committee chaired by the Governor, RBI and the action taken by members on the past decisions of FSDC.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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