The COVID 19 pandemic caused widespread devastation to lives and livelihoods all across the world but thankfully post-pandemic, growth is gaining traction. The COVID19 has highlighted issues of disparate demand and supply divergence, patchy access to countries with low production costs and irregular vaccination. Hence as the FSDC stressed, constant vigil is imperative. The FSDC’s discussion of various mandates, viz., financial stability, financial sector development, inter-regulatory coordination, financial literacy and inclusion and macro-prudential supervision stressed continuous vigil by Government and all regulators on financial conditions.