FSDC Reviews Macroeconomic Credentials
The Financial Stability and Development Council (FSDC) headed the Minister of Finance reviewed the current economic situation with all sectoral regulators and held discussions on the forthcoming budget.
Financial Stability and Development Council
Financial Stability and Development Council (FSDC) is the apex body which deals with macroprudential and financial regularities in the entire financial sector of India.
FSDC is headed by the Minister of Finance and include heads of financial sector regulatory authorities and secretaries of crucial ministers.
FSDC was set up in 2010 as per the recommendations of the Raghuram Rajan Committee as part of the efforts to be better conditioned to prevent instances such as the global economic meltdown of 2008 in future. FSDC envisions to strengthen and institutionalise the mechanism of maintaining financial stability, financial sector development, inter-regulatory coordination along with monitoring macro-prudential regulation of the economy.
Category: Economy & Banking Current Affairs