OREANDA-NEWS. March 20, 2012. A meeting of the Sub-Committee of the Financial Stability Development Council (FSDC) was held at Reserve Bank of India, New Delhi. Dr. D. Subbarao, Governor, Reserve Bank of India, chaired the meeting. The meeting was attended by Shri U. K. Sinha, Chairman, SEBI; Shri J. Harinarayan, Chairman, IRDA; Shri D. K. Mittal, Secretary, Department of Financial Services; Deputy Governors, RBI: Dr. K.C. Chakrabarty, Dr. Subir Gokarn, Shri Anand Sinha and Shri H.R. Khan; Shri V. S. Das, Executive Director, and other officials.

The Sub-Committee reviewed the recent developments in the global macroeconomic and financial sector scenario, focusing on issues relating to potential systemic risks for India. It also deliberated on a proposal for setting up an inter-regulatory forum for improved co-operation for effective supervision of Financial Conglomerates.

The functioning of the Technical Group for Financial Inclusion and Literacy and the Inter Regulatory Technical Group were also reviewed by the Sub-Committee.