Finance Minister Arun Jaitley reviewes current global and domestic economic situation and financial sector performance
Recently, the 19th meeting of the Financial Stability and Development Council (FSDC) held under the Chairmanship of the Union Finance Minister Arun Jaitley reviewed the current global and domestic economic situation and financial sector performance. Apart from liquidity in NBFCs (segmental liquidity position and in mutual fund space), the FSDC discussed on various economic issues ranging from oil prices, rupee, inflation to improving cyber security in the financial sector including “progress made towards setting up of a Computer Emergency Response Team in the Financial Sector (CERT-Fin) under a Statutory Framework”. The FSDC is an apex-level body to strengthen and institutionalise the mechanism of maintaining financial stability, financial sector development, inter-regulatory coordination along with monitoring macro-prudential regulation of economy.
Topics: Computer emergency response team • Economy • Finance in India • Financial sector development • Financial stability • Financial Stability and Development Council • Great Recession • Ministry of Finance • Money • Non-bank financial institution