The first meeting of the sub-committee of the Financial Stability Development Council (FSDC) was held at the Reserve Bank of India office in New Delhi on Friday, the central bank said in a release. The sub-committee reviewed the developments in the macro economy and the financial markets, it said.
The central bank said the sub-committee has been formed to assist the Financial Stability Development Council and it has replaced the High Level Co-ordination Committee on financial markets.
