Financial Stability and Development Council (FSDC)

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    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