Economy

The financial Stability Development Council met on Tuesday to seem at potential challenges for financial stability. The challenges embrace crude oil International situation in Ukraine along with others.

·        The financial Stability and Development Council (FSDC) was brought about by an executive Order of the Union Government as a non-statutory apex body under the Ministry of Finance in 2010.

·         The RaghuramRajan committee (2008) on financial sector reforms 1st projected the creation of FSDC. Council Members The finance minister is that the Chairman of the FSDC.

 

 

Members of FSDC include Heads of the financial Sector Regulators listed below:

 I. reserve bank of India (RBI)

II. Insurance regulatory and Development Authority (IRDA)

III. Securities and Exchange Board of India (SEBI)

IV. Pension Fund regulatory and Development Authority (PFRDA)

V. other members are Finance Secretary, Chief Economic adviser and     Secretary of the Department of financial Services.

VI. FSDC sub-committee is headed by the Governor of RBI.