Finance Minister Nirmala Sitharaman reviewed on Thursday that the state of the economy including stress in the financial sector at the meeting of the Financial Stability and Development Council (FSDC). The FSDC is the apex body of sectoral regulators, headed by the finance minister.
“The meeting was very constructive and it took stock of entire financial system and other issues,” said Finance Secretary Rajiv Kumar after the meeting that lasted nearly two hours.
Reserve Bank of India (RBI) and other regulators are looking at financial at it holistically, he said when asked about stress in the financial sector.
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