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Financial Stability and Development Council (FSDC)

General Studies-3

Topics Covered: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.

 

Context: 24th meeting of Financial Stability and Development Council (FSDC).

  • The 24th meeting deliberated on various mandates of the FSDC such as financial stability, financial sector development, inter-regulatory coordination, financial literacy, financial inclusion, and macro prudential supervision of the economy including the functioning of large financial conglomerates.

Note: Have an overview on the areas the FSDC can deal with

 

The council also discussed issues relating to

  • Management of stressed assets,
  • strengthening institutional mechanism for financial stability analysis,
  • framework for resolution of financial institutions and issues related to IBC,
  • data sharing mechanisms of government authorities,
  • internationalisation of the Indian rupee and
  • pension sector related issues.

 

About Financial Stability and Development Council (FSDC):

  • Financial Stability and Development Council (FSDC) was set up by the Government as the apex level forum in December 2010.
  • The Chairman of the Council is the Union Finance Minister and its members include
    • The heads of financial sector Regulators (RBI, SEBI, PFRDA, IRDA & FMC)
    • Finance Secretary and/or Secretary, Department of Economic Affairs,
    • Secretary, Department of Financial Services, and
    • Chief Economic Adviser.
  • The Council can invite experts to its meeting if required.

 

InstaLinks

Prelims Link:

  1. About FSDC
  2. Composition of FSDC
  3. Functions of FSDC

Source: The Hindu