A meeting of the Sub-Committee of the Financial Stability and Development Council (FSDC-SC) was held at the Reserve Bank of India headquarters in Mumbai under the chairmanship of Sanjay Malhotra.
The panel reviewed key global and domestic macroeconomic developments and discussed emerging challenges affecting financial stability.
Members also deliberated on several inter-regulatory issues, including simplification of Know Your Customer (KYC) processes and regulatory impact assessment, with a focus on improving transparency, accountability and quality in regulatory frameworks.
The FSDC Sub-Committee reaffirmed its commitment to strengthening financial sector resilience through closer coordination among regulators. The panel also stressed the need to closely monitor risks arising from heightened geopolitical tensions and global uncertainties.
The meeting was attended by senior officials and heads of major financial regulators, including Securities and Exchange Board of India, Insurance Regulatory and Development Authority of India, Pension Fund Regulatory and Development Authority and International Financial Services Centres Authority, along with senior government and RBI officials.