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FSDC panel reviews financial events
November 25 , 2017
2427 days
1136
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- The Sub-Committee of the Financial Stability and Development Council (FSDC) reviewed the major global and domestic developments which could impinge on the country’s financial stability.
- The panel was headed by Reserve Bank of India Governor Urjit Patel.
- Financial Stability and Development Council (FSDC) is an apex-level body constituted by the government of India.
- The Union Finance Minister is chairman of FSDC.
- Its members are
- Heads of the financial sector regulatory authorities (i.e., RBI, SEBI, IRDA, PFRDA),
- Finance Secretary or Secretary, Department of Economic Affair
- Secretary, Department of Financial Services, and
- Chief Economic Adviser
- The new body envisages to strengthen and institutionalise the mechanism of maintaining financial stability, financial sector development, inter-regulatory coordination along with monitoring macro-prudential regulation of economy.
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