BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

What is the full form of ‘FSDC’ which is used in financial sectors?

A	Financial Security and Development Council
B	Financial Stability and Development Council
C	Fiscal Security and Development Council
D	Fiscal Stability and Development Council

Explanation:

Detailed explanation-1: -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-2: -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-3: -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.

Detailed explanation-4: -: Mumbai, September 15, 2022 The 26th Meeting of the Financial Stability and Development Council (FSDC) was chaired by the Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman in Mumbai today.

There is 1 question to complete.