: FSDC deliberates to improve credit information systems for cyber security #FinanceIndia #StockMarketNEWS FSDC deliberates to improve credit information systems for cyber security New Delhi, Sept 16

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FSDC deliberates to improve credit information systems for cyber security #FinanceIndia #StockMarketNEWS
FSDC deliberates to improve credit information systems for cyber security New Delhi, Sept 16 (KNN) Finance Minister Nirmala Sitharaman on Thursday chaired the 26th meeting of the financial stability and development council (FSDC) in Mumbai.

During the meeting, the council deliberated on improving the efficiency of the existing Financial/Credit Information Systems, issues of governance and management in Systemically Important Financial Institutions including Financial Market Infrastructures, strengthening cyber security framework in financial sector, Common KYC for all financial Services and other related matters.

It also took into account the issues relating to financing of Power Sector, strategic role of GIFT IFSC in New Aatmanirbhar Bharat, inter-regulatory Issues of GIFT-IFSC, and need for utilisation of the services of Registered Valuers by all Government Departments.

The council decided to monitor the financial sector risks, the financial conditions and market developments on a continuous basis by the government and the regulators so that appropriate and timely action can be taken so as to mitigate any vulnerability and strengthen financial stability.

Preparations regarding the financial sector issues to be taken up during India’s G20 Presidency in 2023 was also discussed.

Key persons present at the meet included Bhagwat Kishanrao Karad, MoS (Finance); Pankaj Chaudhary, MoS (Finance); Shaktikanta Das, Governor, Reserve Bank of India; T. V. Somanathan, Finance Secretary and Secretary, Department of Expenditure, Ministry of Finance; Ajay Seth, Secretary, Department of Economic Affairs, Ministry of Finance; Tarun Bajaj, Secretary, Department of Revenue, Ministry of Finance, amongst others. (KNN Bureau)

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