What is FSDC in banking?

What is FSDC in banking?

The 25th meeting of the Financial Stability and Development Council (FSDC) was held in Mumbai today, under the Chairpersonship of Union Finance Minister Smt. Nirmala Sitharaman.

Who chaired FSDC?

Smt. Nirmala Sitharaman
(FSDC) has been held under the Chairmanship of the Union Finance Minister, Smt. Nirmala Sitharaman. senior officers of the Government of India and Financial Sector Regulators.

Who has chaired the 24th meeting of FSDC?

Nirmala Sitharaman chaired the 24th meeting of the Financial Stability and Development Council (FSDC) here today. The meeting was attended by Dr. Bhagwat Kishanrao Karad, MoS (Finance); Shri Pankaj Chaudhary, MoS (Finance); Shri Shaktikanta Das, Governor, Reserve Bank of India; Dr. T. V.

What is the full form of FSDC?

• With a view to strengthening and institutionalizing the mechanism for maintaining financial stability, enhancing inter-regulatory coordination and promoting financial sector development, the Financial Stability and Development Council (FSDC) was set up by the Government as the apex level forum in December 2010.

What are the functions of Fsdc?

Functions of FSDC

• Bringing about stability in the financial sector.
• Development of the Financial Sector.
• Coordination of Inter-Regulatory bodies.
• Promoting financial literacy.
• Ensuring financial inclusion.
• Macroprudential supervision of the economy including the functioning of large financial conglomerates.

Is Fsdc an organ of Niti Aayog?

It is an organ of NITI Aayog. It is headed by the Union Finance Minister. It monitors macroprudential supervision of the economy.

Who are the members of FSDC?

The government reconstituted the FSDC to include the following Members in the Council:

• Minister of State responsible for the Department of Economic Affairs (DEA)
• Secretary of the Department of Electronics and Information Technology.
• Revenue Secretary.
• Chairman of the Insolvency and Bankruptcy Board of India (IBBI)

Is Fsdc a statutory body?

The Financial Stability and Development Council (FSDC) was constituted by an Executive Order of the Union Government as a non-statutory apex body under the Ministry of Finance in 2010.

Who are the members of Fsdc?

Is Fsdc statutory?

The Financial Stability and Development Council (FSDC) was constituted by an Executive Order of the Union Government as a non-statutory apex body under the Ministry of Finance in 2010. The Raghuram Rajan Committee (2008) on financial sector reforms first proposed the creation of FSDC.

Is Fsdc a constitutional body?

Who heads financial stability?

Klaas Knot
Financial Stability Board