Keeping this in view, the Ministry of Finance has constituted a High-Level Coordination Committee on Financial and Capital Markets with the Governor, RBI, Chairman, Securities and Exchange Board of India (SEBI) and Chairman, Insurance Regulatory and Development Authority (IRDA) along with the Finance Secretary, Government of India as members to address policy gaps and overlaps.
An important aspect of the financial stability process has been the growing emphasis on the role of market discipline. As part of the process, the Reserve Bank has laid strong emphasis on the levels of transparency and standards of disclosure in banks’ balance sheets.