MUMBAI: A special panel of the Financial Stability and Development Council (FSDC), an umbrella organisation is considering changes in the regulatory framework relating to Alternative Investment Funds that would be set up in the GIFT City, Gujarat.
It held a meeting on Wednesday as members discussed a wide range of matters that could pose threat to financial stability. RBI governor Shaktikanta Das chaired the meeting.
“The regulators reaffirmed their resolve to be alert and watchful of emerging challenges to financial stability,” RBI said in a release.
“The Sub-Committee, inter-alia, discussed scope for improvements in insolvency resolution under IBC, utilisation of data with the Central KYC Records Registry,” it said adding that those AIFs would be set in the International Financial Services Centre, a dedicated global arena under GIFT City.
The members of the panel or sub-committee included bosses of different regulators and other government bodies including the Securities Exchange Board of India, Insurance Regulatory and Development Authority of India, Insolvency and Bankruptcy Board of India, Department for Financial Services.
The panel also reviewed the activities of various technical groups under its purview and the functioning of State Level Coordination Committees (SLCCs) in various states / UTs.
It reviewed the major developments in the global and domestic economy as well as financial markets that impact financial stability.
It held a meeting on Wednesday as members discussed a wide range of matters that could pose threat to financial stability. RBI governor Shaktikanta Das chaired the meeting.
“The regulators reaffirmed their resolve to be alert and watchful of emerging challenges to financial stability,” RBI said in a release.
“The Sub-Committee, inter-alia, discussed scope for improvements in insolvency resolution under IBC, utilisation of data with the Central KYC Records Registry,” it said adding that those AIFs would be set in the International Financial Services Centre, a dedicated global arena under GIFT City.
The members of the panel or sub-committee included bosses of different regulators and other government bodies including the Securities Exchange Board of India, Insurance Regulatory and Development Authority of India, Insolvency and Bankruptcy Board of India, Department for Financial Services.
The panel also reviewed the activities of various technical groups under its purview and the functioning of State Level Coordination Committees (SLCCs) in various states / UTs.
It reviewed the major developments in the global and domestic economy as well as financial markets that impact financial stability.
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