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Pranab Mukherjee to meet financial regulators today


February 18, 2012 - New Delhi

Finance Minister Pranab Mukherjee is expected to meet top economic regulators, including Reserve Bank of India (RBI) Governor D. Subbarao, Insurance Regulatory and Development Authority (IRDA) Chairman J. Hari Narayan and Securities and Exchange Board of India (SEBI) Chairman U K Sinha in a pre-budget meeting here today to discuss the roadmap ahead for the financial sector.

The Secretaries in the Finance Ministry would also be attending today's meeting, where discussions may take place on ways to check flow of illicit funds in various financial markets, especially through banking, stock markets and insurance route.

The regulators are also expected to suggest ways to improve the investment climate in the country.

The Financial Stability Development Council (FSDC), which is headed by Mukherjee, coordinates among regulators and looks at financial sector development, financial literacy, financial inclusion and macro-prudential supervision of the economy, including the functioning of large financial conglomerates.

ANI

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