Jaitley to chair FSDC meeting on Nov 5

The Financial Stability and Development Council (FSDC), headed by Finance Minister Arun Jaitley, will meet on November 5 to take stock of the economic situation.

Fiscal situation, external sector environment, financial sector reforms, rising non-performing assets and regulatory issues are likely to figure in the meeting, sources said.

FSDC is a high-powered body, whose members include RBI Governor, Sebi Chairman, IRDAI Chief and heads of other regulatory bodies. Besides, top Finance Ministry officials would also be attending the meeting.

Last month, the FSDC sub-committee, which is headed by the RBI Governor, had met in Mumbai. The meeting reviewed domestic and international developments and their impact on the financial stability of the country.

It also discussed issues related to inter-regulatory coordination for reporting under the Foreign Account Tax Compliance Act (FATCA), the Central KYC Registry and International Financial Services Centre (IFSC).