Financial sector regulators have discussed ways to address challenges pertaining to the quality of credit ratings and other issues concerning the economy. Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority of India (IRDAI) and Pension Fund Regulatory and Development Authority (PFRDA), along with senior officials of the finance ministry, came up with key issues facing the economy at the meeting of the sub-committee of the Financial Stability and Development Council (FSDC) chaired by RBI Governor Shaktikanta Das.
The sub-committee reviewed the major developments on the global and domestic fronts that impinge on the financial stability of India. It also said that the panel discussed ways to address challenges pertaining to the quality of credit ratings; and inter-linkages between housing finance companies and housing developers.
The panel also deliberated on the interlinking of various regulatory databases and the National Strategy for Financial Inclusion. Further, the sub-committee reviewed the functioning of state-level coordination committee (SLCCs) in various states and Union territories, activities of its various technical groups, and a thematic study on financial inclusion and financial stability.
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