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The Sub-Committee of the Financial Stability and Development Council (FSDC) on Wednesday discussed the scope for improvements in insolvency resolution under the Insolvency and Bankruptcy Code (IBC) and utilisation of data with the Central KYC (know your customer) Records Registry.
The Sub-Committee, chaired by Governor Shaktikanta Das, also discussed changes in the regulatory framework relating to Alternative Investment Funds (AIFs) set up in the International Financial Services Centre (IFSC), among others, the Reserve Bank of India (RBI) said in a statement.
It reviewed the functioning of State Level Coordination Committees (SLCCs) in various states/UTs.
“The regulators reaffirmed their resolve to be alert and watchful of emerging challenges to financial stability,” RBI said in a statement.
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