The Financial Stability and Development Council (FSDC)
- The Financial Stability and Development Council (FSDC) has been constituted vide GOI notification dated 30th December, 2010.
- The Council is chaired by the Union Finance Minister and its members are Governor, Reserve Bank of India; Finance Secretary and/or Secretary, Department of Economic Affairs; Secretary, Department of Financial Services; Chief Economic Adviser, Ministry of Finance; Chairman, Securities and Exchange Board of India; Chairman, Insurance Regulatory and Development Authority and Chairman, Pension Fund Regulatory and Development Authority.
- The Council deals, inter-alia, with issues relating to
- financial stability,
- financial sector development,
- Inter–regulatory coordination,
- Financial literacy,
- Financial inclusion and
- Macro prudential supervision of the economy including the functioning of large financial conglomerates.
- No funds are separately allocated to the Council for undertaking its activities.
- The Council and its Sub-Committee (chaired by Governor, Reserve Bank of India) deliberate on agenda items proposed by any of the members of the Council which broadly include matters relating to financial stability, inter-regulatory coordination, and financial sector development. The Council/Sub-committee deliberates on these issues and suggests taking appropriate steps, as required.
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