Members of the Sub-Committee of the Financial Stability and Development Council (FSDC-SC) on Tuesday resolved to remain vigilant and proactive to ensure that financial markets and financial institutions remained resilient.
This comes amidst the spillovers arising from evolving global macroeconomic situation.
It may be pertinent to note that RBI’s latest monetary policy report (MPR) has observed that during H122-23, domestic financial markets adjusted smoothly to the shift in monetary policy stance and exhibited resilience to global financial market headwinds and policy spillovers from advanced economies.
“Going forward, the RBI will remain vigilant, agile and nimble in its liquidity management operations and would use all instruments at its disposal to mitigate the spillovers of global financial market volatility on domestic financial markets,” per the report.
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Market rates have moved higher across the maturity spectrum, albeit, at varying degrees across market segments and instruments, it added.
“The FSDC-SC reviewed the major developments in the global and domestic economy as well as in various segments of the financial system. It discussed certain inter-regulatory issues,” RBI said in a statement.
The Sub-Committee also reviewed the activities of various technical groups under its purview and the functioning of State Level Co-ordination Committees (SLCCs) in various States/ Union Territories.
The FSDC-SC meeting was chaired by RBI Governor Shaktikanta Das and was attended by top officials from the Finance Ministry and Ministry of Corporate Affairs, chiefs of financial sector regulators such as SEBI, IRDAI, and PFRDA, and deputy governors of RBI.
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