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Financial sector regulators discuss issues concerning economy

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Dion Global

15 Mar 2019

Financial sector regulators discussed ways to address challenges pertaining to the quality of credit ratings and other issues concerning the economy, the Reserve Bank of India said in a statement.

Markets regulator Sebi, insurance regulator Irdai, and pension fund regulator PFRDA, along with senior officials of the finance ministry, brainstormed key issues facing the economy at the meeting of the sub-committee of the Financial Stability and Development Council (FSDC) chaired by RBI Governor Shaktikanta Das.

"The sub-committee reviewed the major developments on the global and domestic fronts that impinge on the financial stability of the country," the central bank said after the meeting.

The panel discussed ways to address challenges pertaining to the quality of credit ratings; and inter-linkages between housing finance companies and housing developers.

It also deliberated on the interlinking of various regulatory databases and the National Strategy for Financial Inclusion.

Further, the sub-committee reviewed the functioning of state-level coordination committee (SLCCs) in various states and Union territories, activities of its various technical groups, and a thematic study on financial inclusion and financial stability.