Q. Consider the following statements about the Financial Stability and Development Council (FSDC): - The Finance Secretary is the chairperson of the council
- It monitors macro-prudential supervision of the economy
Which of the above statements is/are correct?
Answer:
2 Only
Notes: First statement is incorrect because union finance minister is the chairperson of the council.
Second statement is correct. The members of FSDC include heads of financial sector regulators like RBI, SEBI, and PFRDA & IRDA. It has been entrusted with performing two functions- first is to strengthen financial stability and second is enhancing coordination among the financial regulators.