BANKING AFFAIRS

Detailed explanation-1: -The Financial Stability and Development Council (FSDC) is an autonomous body constituted by the Government of India.

Detailed explanation-2: -Financial Stability and Development Council (FSDC): Without prejudice to the autonomy of regulators, the Council monitors macro prudential supervision of the economy, including functioning of large financial conglomerates, and addresses inter-regulatory coordination and financial sector development issues.

Detailed explanation-3: -FSDC stands for ‘Financial Stability and Development Council. ‘ The Financial Stability and Development Council (FSDC) is a non-statutory apex council under the Ministry of Finance constituted by the Executive Order in 2010.

Detailed explanation-4: -It is chaired by the Finance Minister and its members include the heads of all Financial Sector Regulators (RBI, SEBI, PFRDA & IRDA), Finance Secretary, Secretary of Department of Economic Affairs (DEA), Secretary of Department of Financial Services (DFS), and Chief Economic Adviser.

Detailed explanation-5: -The Financial Stability and Development Council (FSDC) was constituted in December, 2010. The FSDC was set up to strengthen and institutionalise the mechanism for maintaining financial stability, enhancing inter-regulatory coordination and promoting financial sector development.