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
