The sub-committee discussed a proposal of setting up of an Inter Regulatory Technical Group on Fintech (IRTG-Fintech) and the National Strategy on Financial Education (NSFE) 2020-2025.A sub committee of the financial stability and development council (FSDC) chaired by the RBI governor Shaktikanta Das met via video conference and reviewed major developments in global and domestic economy and financial markets.
The sub committee resolved that it will do whatever is necessary to revive the economy and preserve financial stability.
“Given the prevailing extraordinary circumstances, every participating regulator and ministry will continue to remain alert and watchful of the emerging challenges and nteract more frequently, both formally and informally, as also collectively,” the RBI said in a press release.
Members of the sub committee include secretaries if finance, information technology, corporate affairs, economic affairs, financial services, the chief economic advisor, heads of regulatory bodies SEBI, IRDA and IBBI and also RBI deputy governors.
The sub-committee discussed a proposal of setting up of an Inter Regulatory Technical Group on Fintech (IRTG-Fintech) and the National Strategy on Financial Education (NSFE) 2020-2025. It also deliberated upon the status and developments under the Insolvency and Bankruptcy Code (IBC), 2016 and the working of credit rating agencies.
Source: indiatimes.com
