Finance Minister Arun Jaitley to chair FSDC meeting this week

NEW DELHI: Finance Minister Arun Jaitley will interact with financial sector regulators to take stock of the country's economic and fiscal situation at the FSDC meeting in Mumbai later this week.

Jaitley will chair the meeting of the Financial Stability and Development Council.

According to sources, the FSDC is likely to take stock of the economy, inflation, fiscal and external sector situation as well as foreign capital flows, regulatory coordination and developments in financial markets.

"The Minister will meet the FSDC on June 7," a source said, adding that it will be the 11th meeting of FSDC and the first under the chairmanship of Jaitley.

The first meeting of FSDC was held in December 2010. The meeting will be attended, among others, by Reserve Bank Governor Raghuram Rajan, Securities and Exchange Board of India Chairman U K Sinha, insurance regulator IRDA Chairman T S Vijayan, Forward Markets Commission Chairman Ramesh Abhishek and pension regulator PFRDA Chairman Anup Wadhawan.

The regulators had already met Jaitley after he took over as the Finance Minister on May 27.