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FM chairs meet to review financial stability measures amid Covid

FM chairs meet to review financial stability measures amid Covid
May 28
15:25 2020

NEW DELHI: Finance Minister Nirmala Sitharaman on Thursday chaired a meeting of the Financial Stability and Development Council (FSDC) through video conference to review the measures to maintain financial stability amid the coronavirus pandemic.

In a tweet, the Ministry of Finance said: “Finance Minister @nsitharaman chairs the 22nd Financial Stability and Development Council (#FSDC) meeting through video conferencing in New Delhi today. The #FSDC meeting will review the measures to maintain financial stability in the context of #COVID19 pandemic.”

The members of the committee include the Governor of the Reserve Bank of India (RBI), Chairpersons of SEBI, Insurance Regulatory and Development Authority of India and Pension Fund Regulatory and Development Authority. Minister of State for Finance Anurag Thakur also attended the meeting.

The meeting comes in the backdrop of the government announcing an economic package and the economy facing a severe blow due to the coronavirus pandemic and the nationwide lockdown. The Reserve Bank of India also last week predicted a negative growth in India’s GDP for the financial year 2020-21.

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