FSDC-SC discusses enhancing financial sector resilience amid geopolitical frictions
The Sub-Committee of the Financial Stability and Development Council (FSDC-SC) has deliberated on key global and domestic macroeconomic and financial sector developments, along with emerging issues bearing implications for financial stability. The Sub-Committee of the FSDC-SC met in the Reserve Bank office under the chairmanship of Governor Sanjay Malhotra.
The FSDC-SC reaffirmed its commitment to enhancing financial sector resilience through inter-regulatory coordination and keeping a close watch on emerging challenges, including those from heightened geopolitical frictions. The panel also reviewed the progress in several inter-regulatory matters, including simplification of KYC processes and regulatory impact assessment, with an emphasis on enhancing the quality, transparency and accountability of regulatory processes.
The meeting took place as geopolitical developments remained volatile after the West Asia conflict, which has led to a steep increase in commodity prices and disruptions in supply chains, which are feared to result in some challenges domestically.
