Agencies, New Delhi
Union Finance Minister P Chidambaram today asked regulators to take all possible concrete measures to avoid any adverse impact of tapering off of Quantitative Easing (QE) in the US, which is likely to happen sooner or later, on the Indian economy.
Mr Chidambaram was speaking at the 8th Meeting of the Financial Stability and Development Council (FSDC) which was held here under his chairmanship.
He said the opportunity available due to the postponement of the reversal of the monetary policies in advanced economies should be utilised to further address the macroeconomic imbalances.
The Council deliberated on the implementation of the recommendations of the Financial Sector Legislative Reforms Commission (FSLRC); impact of tapering off of the Quantitative Easing (QE) in the US and preventive measures to be taken; Steps to be taken by Regulators/Government to facilitate the ‘Corporate Distress Resolution Mechanism’ as laid-out in the Companies Act, 2013.
RBI governor Raghuram G Rajan, Finance Secretary R S Gujral, Revenue Secretary Sumit Bose, Corporate Affairs Secretary Naved Masood, SEBI chairman U K Sinha, IRDA chairman T S Vijayan, PFRDA chairman Yogesh Agarwal, and FMC chairman Ramesh Abhishek were among those present at the meeting.