Sitharaman to review state of economy at FSDC meeting on Monday

New Delhi: Finance minister Nirmala Sitharaman will review the state of the economy amid global and domestic challenges at a meeting of the Financial Stability and Development Council (FSDC) on Monday.

The 27th meeting of the high-level panel to be held here will be attended by all financial sector regulators, including RBI Governor Shaktikanta Das, sources said.

This would be the first meeting of the FSDC after the passage of Rs 45 lakh crore Budget for 2023-24 with greater emphasis on capital expenditure with an outlay of Rs 10,00,961 crore.

The FSDC is the apex body of sectoral regulators, headed by the Union finance minister.

The meeting will review the current global and domestic economic situation and financial stability issues, including those concerning banking and NBFCs in view of failure of Silicon Valley Bank and Signature Bank and liquidity pressure faced by Credit Suisse, according to the sources.

The council would review the progress of measures approved earlier for further development of the financial sector and to achieve inclusive economic growth with macroeconomic stability, they said.