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The Financial Stability and Development Council (FSDC) has emphasised the need to keep a continuous vigil by the government and regulator on the financial conditions.

The 24th meeting of the Council, chaired by Finance Minister Nirmala Sitharaman, on Friday also deliberated on its various mandates -- financial stability, financial sector development, inter-regulatory coordination, financial literacy, financial inclusion, and macro prudential supervision of the economy including the functioning of large financial conglomerates among others.

The meeting was attended by Ministers of State for Finance, Bhagwat Kishanrao Karad and Pankaj Chaudhary, RBI Governor Shaktikanta Das, Finance Secretary T. V. Somanathan among others.

The council also discussed issues relating to management of stressed assets, strengthening institutional mechanism for financial stability analysis, financial inclusion, framework for resolution of financial institutions and issues related to IBC processes, banks' exposure to various sectors and government, data sharing mechanisms of government authorities, internationalisation of Indian Rupee and pension sector related issues.

It also took note of the activities undertaken by the FSDC Sub-Committee chaired by the RBI Governor, and the action taken by members on the past decisions of the FSDC.