Finance Minister Smt. Nirmala Sitharaman Chairs 26th meeting of the Financial Stability and Development Council

Current Affairs

  • The 26th Meeting of the Financial Stability and Development Council (FSDC) was chaired by the Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman in Mumbai on September 15, 2022.
  • The council stressed on the early warning indicators for the economy and the preparedness to deal with them, improving the efficiency of the existing financial and credit information systems, and issues of governance and management in systemically important financial institutions.
  • “It was noted that there is a need to monitor the financial sector risks, the financial conditions and market developments on a continuous basis by the Government and the regulators so that appropriate and timely action can be taken so as to mitigate any vulnerability and strengthen financial stability,” the Finance Ministry statement read.
  • The council also took note of the preparation in respect of financial sector issues to be taken up during India’s G20 Presidency in 2023.
  • The finance minister is on a three-day visit to the financial capital, where she is meeting representatives of the industry, market and bankers.

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