FM Sitharaman chairs FSDC meeting, takes stock of economy amid Covid-19

Various measures to maintain financial stability in the context of COVID-19 have been reviewed, an official said after the meeting

Finance Minister Nirmala Sitharaman on Thursday reviewed the state of the economy at the meeting of the Financial Stability and Development Council (FSDC), in view of disruptions caused by the coronavirus pandemic and the ongoing lockdown.

This was the first meeting of the FSDC, which comprises RBI Governor and other financial sector regulators, since the coronavirus outbreak. The 22nd meeting of the FSDC, which was held via video conferencing, assumes a greater significance considering that the economy is expected to contract by 5 per cent by some estimates amid the virus crisis.

Various measures to maintain financial stability in the