<span style="color: #222222;">The 22nd meeting of Financial Stability and Development Council (FSDC) was held in New Delhi today through video conferencing. The meeting chaired by Finance Minister Nirmala Sitharaman reviewed the measures to maintain financial stability in the context of COVID-19 pandemic. </span><br />'' <br />'' <span style="color: #222222;">The meeting reviewed the current global and domestic macro-economic situation, financial stability and vulnerabilities issues, major issues likely to be faced by banks and other financial institutions. </span><br />'' <br />'' <span style="color: #222222;">Besides, market volatility, domestic resource mobilisation and capital flows issues were also discussed by the Council. The Council noted that the Pandemic poses a serious threat to the stability of the global financial system as the ultimate impact of the crisis and the timing of recovery, is uncertain at this point of time.  </span><br />'' <br />'' <span style="color: #222222;">It felt there is a need to keep a continuous vigil by Government and all regulators on the financial conditions that could expose financial vulnerabilities in the medium and long-term. The efforts of the Government and regulators are focused on avoiding a prolonged period of dislocation in financial markets. </span><br />'' <br />'' <span style="color: #222222;">The Council also took note of the initiatives taken by the Government and the regulators in the recent months to help revive the economy.  Government and the RBI have announced various fiscal and monetary measures to pre-emptively limit the economic damage and would continue to address the liquidity and capital requirements of the financial institutions.</span>