But of course we have to be cautious and be on our toes," Seth said.Īsked whether the council, which was the first FSDC meeting since the 2023/24 Federal Budget was announced on Feb. "We see that the global financial situation is daunting but, at the same time, Indian economy and financial sector is well protected and well regulated. NEW DELHI, May 8 (Reuters) - India's Financial Stability and Development Council (FSDC) considers the country’s banking system to be protected from any spillover from issues in the sector globally, the country's economic affairs secretary said on Monday.Ījay Seth was speaking with reporters after the meeting of FSDC, which is chaired by the finance minister and brings together the leading regulators, including the country’s central bank.
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