Financial Stability and Development Council (FSDC)

In News 

• The 26th Meeting of the Financial Stability and Development Council (FSDC) was chaired by the Union Finance and Corporate Affairs Minister

Major Outcomes 

• The Council, inter alia, deliberated on the Early Warning Indicators for the economy and our preparedness to deal with them, 
• Improving the efficiency of the existing Financial/Credit Information Systems, issues of governance and management in Systemically Important Financial Institutions including Financial Market Infrastructures

The Financial Stability and Development Council FSDC 

• It has been constituted vide GOI notification dated 30th December, 2010. 
• It is chaired by the Union Finance Minister 
• It has been set up by the government in consultation with financial market regulators, to strengthen and institutionalise the mechanism for maintaining financial stability, enhance inter-regulatory coordination and promote financial sector development.
• The FSDC Sub-committee has also been set up under the chairmanship of Governor, RBI.
• Functions :It monitors macro-prudential supervision of the economy, including functioning of large financial conglomerates, and addresses inter-regulatory coordination and financial sector development issues.
  •  It also focuses on financial literacy and financial inclusion.

Source: PIB