Bookmark Bookmark

Financial Stability Development Council

Financial Stability Development Council

Financial Stability Development Council meeting held recently was chaired by the Union Finance Minister.

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.

An apex-level FSDC is not a statutory body.

Composition of FSDC

The Council is chaired by the Union Finance Minister.

FSDC members are Governor of RBI; Finance Secretary and/or Secretary, Department of Economic Affairs; Secretary, Department of Financial Services; Chief Economic Adviser, Ministry of Finance; Chairman, Securities and Exchange Board of India; Chairman, Insurance Regulatory and Development Authority and Chairman, Pension Fund Regulatory and Development Authority. It also includes the chairman of the Insolvency and Bankruptcy Board (IBBI).

Recently, the government through a gazette notification had included ministry of electronics and information technology (MeitY) secretary in the FSDC in view of the increased focus of the government on digital economy.

You might be interested:

El Nino Report by Nature Journal

El Nino Report by Nature Journal Global climatic disruptions due to the strong and extended positive phase of the ENSO conditions, or simply El Nino in 2015-16 increased the outbreak of diseases in th ...

one year ago

British Army will recruit 800 Nepalese Gurkha

British Army will recruit 800 Nepalese Gurkha The British Army announced that it would create a new Specialised Infantry Battalion by recruiting more than 800 Nepalese Gurkha servicepersons this year. ...

one year ago

RBI categorises IDBI Bank as Private Sector Bank; SBI, ICICI and HDFC remain Systemically Important Banks

RBI categorises IDBI Bank as Private Sector Bank; SBI, ICICI and HDFC remain Systemically Important Banks The Reserve Bank of India (RBI) on 14 March 2019 named State Bank of India (SBI), ICICI Bank a ...

one year ago

National Supercomputer Mission

National Supercomputer Mission IIT Kharagpur has signed a MoU with Centre for Development of Advanced Computing (C-DAC) to set up a 1.3 Petaflop high-performance computing facility and data centre fun ...

one year ago

GK of the Day: Electoral Bond Scheme

GK of the Day: Electoral Bond Scheme Electoral Bond Scheme was introduced during the 2017 Budget which aims to ensure accountability to donations made to major political parties. What is Electoral Bon ...

one year ago

Mercer’s Quality of Living Reports

Mercer’s Quality of Living Reports Global consulting firm Mercer has released its annual quality of living survey in which 231 cities across the globe were ranked based on various factors. This ...

one year ago

Provide your feedback on this article: