Finance Minister Nirmala Sitharaman to review economy at FSDC meeting on June 10
Finance Minister
Nirmala Sitharaman
is set to review the state of the economy amid global uncertainties at a meeting of the
Financial Stability
and Development Council (FSDC) on June 10.
The 29th meeting of the high-level panel, to be held at Mumbai, will be attended by all financial sector regulators, including
RBI Governor
Sanjay Malhotra, sources said.
This would be the first meeting after India recorded a growth of 6.5 per cent in FY25, the slowest in the last four years.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Linda Kozlowski, 67, Shows Off Her Perfect Figure In A New Photo
Today's NYC
Undo
The meeting, chaired by the Finance Minister, comes after the Reserve Bank announced a record dividend of Rs 2.7 lakh crore for FY25 last month. The dividend for FY25 was 27.4 per cent more than the payout in 2023-24 of Rs 2.1 lakh crore.
Indian economy
expanded at a faster pace than expected in the last quarter of the 2024-25 fiscal, helping clock a 6.5 per cent growth rate in the year that elevated its size to USD 3.9 trillion and held promise of crossing the world's fourth-largest economy, Japan, in FY26.
Live Events
The Indian economy grew at 7.4 per cent in January-March - the fourth and final quarter of FY25, reflecting a strong cyclical rebound that was helped by a rise in private consumption and robust growth in construction and manufacturing, according to the data released by the National Statistics Office (NSO) last week.
In the meeting, the finance minister will review the current global and domestic economic situation and financial stability issues.
Sitharaman is likely to discuss ways to curb
digital fraud
as it poses a challenge to the financial system and various financial regulators are grappling with the issue of this menace, sources said.
Besides, the council may also review the progress of measures approved earlier for further development of the financial sector, and to achieve inclusive economic growth with macroeconomic stability.
The
FSDC meeting
will also review activities undertaken by the FSDC sub-committee, chaired by the RBI governor and the action taken by members on the past decisions of FSDC.
Besides the RBI governor, Securities and Exchange Board of India (SEBI) Chairperson Tuhin Kanta Pandey, Insolvency and Bankruptcy Board of India (IBBI) Chairman Ravi Mital and International Financial Services Centres Authority Chairperson K Rajaraman will attend the meeting.
According to sources, the FSDC meeting will also be attended by Minister of State for Finance Pankaj Chaudhary, Finance Secretary Ajay Seth, Expenditure Secretary Vumlunmang Vualnam, Revenue Secretary Arvind Shrivastava, Financial Services Secretary M Nagaraju and other top officials of the finance ministry.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
17 minutes ago
- Mint
Stocks to buy under ₹100: Experts recommend six shares to buy today
Stocks to buy under ₹ 100: The Indian stock market added to its rally on Monday, lifted by positive global cues amid signs of progress in US tariff negotiations and the central bank's bumper monetary policy measures like the repo rate and CRR cut. The Nifty 50 rose 0.4% to 25,103.2 to an eight-month high, while the BSE Sensex gained 0.31% to 82,445.21. The gains in the broader market beat that of the benchmarks as the small-cap index added 1.6% and the mid-cap index jumped 1.1% Twelve of the 13 major sectors on the NSE advanced. Nifty Private and Nifty PSU Banks advanced 1.03% and 1.52%, respectively. Nifty Financials added 0.5%. The outlook for the Indian stock market remains firm on the back of strong domestic and global cues. Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services, said, "Overall, we expect the market to continue its gradual up-move, on the back of strong domestic cues - better than expected Q4 corporate earnings, RBI's liquidity-boosting measures, above average monsoon forecast and the likely US-India trade deal." Meanwhile, commenting on the technical outlook for Nifty 50, Rupak De, Senior Technical Analyst at LKP Securities, said, "The Nifty has finally broken out of its prolonged consolidation on the daily timeframe. Market sentiment appears positive, with the index sustaining well above the crucial 50-day moving average (50DMA)." A golden crossover on the daily chart has been supporting the bullish sentiment. Following the breakout, a rise towards 25,350 looks likely, he said, adding that a decisive move above this level could trigger a rally towards 25,700. "On the downside, support is placed at 24,850; a breach below this level may lead to a shift in sentiment," De said. Regarding stocks to buy today, market experts Sumeet Bagadia, Executive Director at Choice Broking; Sugandha Sachdeva, Founder of SS WealthStreet; Anshul Jain, Head of Research at Lakshmishree Investment and Securities and Mahesh M Ojha, AVP - Research at Hensex Securities buying these six intraday stocks under ₹ 100: Reliance Power, NMDC, MIC Electronics, Imagicaaworld Entertainment, Asian Granito India and Hindustan Construction Company (HCC). 1) Reliance Power: Buy in cash at ₹ 64.62, target price at ₹ 71.62, stop loss at ₹ 62.35 2) NMDC: Buy in cash at ₹ 74, target price at ₹ 79.18 and stop loss at ₹ 71.41 3) MIC Electronics: Buy at ₹ 66, target price at ₹ 82-90, stop loss at ₹ 55 4) Imagicaaworld Entertainment: Buy at ₹ 73.50, target price at ₹ 80, stop loss at ₹ 70 5) Asian Granito: Buy at ₹ 60.25-61.25, target price at ₹ 64, followed by ₹ 67 and ₹ 70; stop loss at ₹ 58.70 6) HCC: Buy at ₹ 35.15-36.15, target price at ₹ 38, followed by ₹ 41, ₹ 44 and ₹ 47
Mint
28 minutes ago
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 10
The domestic equity benchmark indices, Sensex and Nifty 50, are likely to open higher on Tuesday, tracking gains in global markets. The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 25,248 level, a premium of nearly 66 points from the Nifty futures' previous close. On Monday, the domestic equity market extended gains to the fourth consecutive session, with the benchmark Nifty 50 closing above the 25,100 level. The Sensex gained 256.22 points, or 0.31%, to close at 82,445.21, while the Nifty 50 settled 100.15 points, or 0.40%, higher at 25,103.20. Here's what to expect from Sensex, Nifty 50 and Bank Nifty today: Sensex has formed a small candle on daily charts, suggesting indecisiveness between the bulls and the bears. 'We are of the view that 82,000 would act as a sacrosanct support zone for trend-following traders. As long as Sensex is trading above this level, the uptrend is likely to continue. On the higher side, it could move up to 82,800 - 83,000. On the flip side, falling below 82,000 would render the uptrend vulnerable,' said Shrikant Chouhan, Head Equity Research, Kotak Securities. Nifty Open Interest (OI) data shows the highest concentration on the call side at the 25,200 and 25,300 strike prices, indicating strong resistance at these levels. On the put side, significant OI build-up is observed at the 25,000 and 24,900 strike prices, marking these as key support zones, said Hardik Matalia, Derivative Analyst at Choice Broking. Nifty 50 shifted into a consolidation with positive bias on June 9 and closed the day higher by 100 points. 'A small red candle was formed on the daily chart that has moved above the broader high low range of the last couple of weeks around 24,500 - 25,000 levels. Nifty 50 is presently stuck at the immediate hurdle of 25,200 levels and there is a higher possibility that the hurdle could be taken out on the upside soon,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. According to him, the underlying trend of Nifty 50 remains positive, and a sustainable move above 25,200 could open the next upside towards 25,600 levels in the near term. Immediate support is placed at 24,900 levels. Om Mehra, Technical Research Analyst, SAMCO Securities said that the Nifty 50 index formed a small-bodied red candle after testing the resistance zone near 25,160, signalling slight hesitation. The intraday high of 25,160.10 and a close slightly below the VWAP (25,113) indicate mild profit booking at higher levels. 'The index is now trading well above all key moving averages, confirming that the bulls remain in control over the broader term. The daily RSI stands at 61, reflecting a neutral stance, while the MACD fast line is gradually improving from lower levels. A decisive close above 25,160 could push the index towards the 25,260 – 25,320 zone. On the downside, immediate support lies at 24,880, followed by the 50-day simple moving average (SMA) at 24,806, which may act as a broader cushion,' Mehra said. A dip towards these levels may present buying opportunities unless it is breached decisively, he added. VLA Ambala, Co-Founder of Stock Market Today, noted that the Nifty 50 closed near the 25,000 mark, breaking past a key resistance level for the June series. 'Nifty 50 formed a small bearish belt hold candlestick on the daily chart, indicating mild profit booking or hesitation. We can expect Nifty 50 to find immediate support between 25,030 and 24,980 and face resistance near 25,230 and 25,320 in today's intraday move,' Ambala said. Bank Nifty index rallied 261.20 points, or 0.46%, to close at 56,839.60 on Monday, after hitting a fresh record high of 57,049.50 during the session. 'Bank Nifty index formed a bearish candle after an intraday breakout, reflecting mild profit booking near the psychological mark and horizontal resistance zone. Although the intraday session was muted, the broader structure remains strong as the index continues to hold above all key moving averages. The breakout from the ascending triangle pattern on the daily chart remains valid unless the breakout base near 56,100 is breached,' said Om Mehra. The RSI stands at 69, with a positive slope and a recently confirmed bullish divergence that strengthens the upside bias. Meanwhile, the MACD has just triggered a fresh bullish crossover above the zero line, a development that often precedes sustained directional moves, he added. 'The immediate zone to watch on the upside remains 57,200. A decisive close above this may unlock potential towards 57,500 - 57,750, aligning with Fibonacci projections. On the downside, the breakout zone of 56,100 – 56,200 now acts as the first support band. A deeper dip could find a cushion near the 55,800 zone,' said Mehra. Bajaj Broking Research said that the Bank Nifty index formed a small bear candle with a higher high and higher low and a bullish gap below its base (56,695 - 56,792), signaling positive bias and continuation of the up move post breaking above the upper band of the last 6 weeks range (56,000 - 53,500). 'We expect the index to maintain positive bias and head higher towards 57,300 and 57,700 levels in the near term. The short-term structure remains constructive with immediate support placed at 55,900 levels being the Friday's breakout area. While key support is placed at 55,400 - 55,500 levels being the confluence of 20 days EMA and key retracement area,' Bajaj Broking Research said. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
30 minutes ago
- Time of India
Indian Judiciary's commitment to justice transcends borders: Justice Kant
Justice Surya Kant NEW DELHI: Justice Surya Kant of Indian Supreme Court on Monday told the Indian business community in Washington that Indian judiciary understood the problems faced by the Indian diaspora and NRIs and played a crucial role in resolving unique challenges faced by them relating to property, inheritance and custody of children in soured matrimonial relations. Speaking with Indian businessmen from various states gathered under the banner of 'Washington Telangana Association', Justice Kant said, 'With procedural adaptations and a growing recognition of cross-border complexities, the courts have made justice more accessible to those living abroad. In certain areas, the judiciary has also extended the protection of Fundamental Rights, ensuring that non-resident citizens are treated with fairness and equality under the law. ' 'In doing so, it reinforces the message that India's commitment to justice does not end at its borders, it reaches all those who continue to carry the country in their hearts,' he added. Commending the resilience of Indian diaspora to maintain their identity while continuing to participate in the technological innovations, research and community service in the countries they have made home while exploring opportunities, Justice Kant said the Indian identity thrives in our languages and festivals, but also in our collective commitment to justice, dignity, and mutual respect. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo These are the ideals that shape not just who we are, but who we continue to become, no matter where we live. ' Commending the role played by the Indian diaspora as ambassadors of India's rich cultural and constitutional legacy by not only preserving it for ourselves but sharing it with the world, the next CJI said, 'In doing so, we honour not only our past, but also our enduring responsibility to shape a future that is united in diversity, grounded in justice, and inspired by the very best of who we are.' 'The success of the Indian diaspora is not only measured in individual achievement - though that alone is remarkable. It is also reflected in the collective identity that communities have preserved and passed on across generations. Whether through temples, cultural centres, schools, or community events, the diaspora has cultivated a sense of belonging and solidarity, making the Indian identity one that thrives far beyond national borders,' he said.
