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Financial Stability and Development Council (FSDC)

Posted on September 16, 2022 by admin1  1159

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

 
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