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“The members resolved to keep up a detailed watch on the unfolding developments and act proactively to make sure that monetary establishments and monetary markets stay resilient amidst the challenges posed by the resurgence of the pandemic,” the RBI stated in a launch.
The sub-committee reviewed the key developments within the world and home economic system in addition to in numerous segments of the monetary system and mentioned the assessments of members concerning the state of affairs rising from the third wave of the pandemic.
Amongst others, it mentioned numerous inter-regulatory points and issues regarding the usage of Aadhaar-based e-KYC and Aadhaar Enabled Cost System by regulated entities.
It additionally reviewed the actions of assorted technical teams below its purview and the functioning of State Degree Coordination Committees (SLCCs) in numerous states and Union Territories.
The assembly was attended T V Somanathan, Finance Secretary and Secretary, Division of Expenditure; Ajay Seth, Secretary, Division of Financial Affairs; Tarun Bajaj, Secretary, Division of Income; Rajesh Verma, Secretary, Ministry of Company Affairs; Ajay Prakash Sawhney, Secretary, Ministry of Electronics and Info Know-how; and Shashank Saksena, Secretary, Monetary Stability and Growth Council.
Different members of the Sub-Committee, together with Ajay Tyagi, Chairman, Securities and Change Board of India (SEBI) and Supratim Bandyopadhyay, Chairman, Pension Fund Regulatory and Growth Authority (PFRDA), additionally attended the assembly.
Moreover, RBI deputy governors Michael Debabrata Patra and T Rabi Sankar; and govt administrators O P Mall, J Ok Sprint and Rohit Jain participated within the assembly.
Vandita Kaul, Further Secretary represented the Division of Monetary Providers; T Alamelu, Complete Time Member, Insurance coverage Regulatory and Growth Authority of India (IRDAI) and Navrang Saini, Chairman (Further Cost), Insolvency and Chapter Board of India (IBBI) attended the assembly on behalf of their respective establishments.
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