General Studies-3
Topics Covered: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
Context: 24th meeting of Financial Stability and Development Council (FSDC).
- The 24th meeting deliberated on various mandates of the FSDC such as 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.
Note: Have an overview on the areas the FSDC can deal with
The council also discussed issues relating to
- Management of stressed assets,
- strengthening institutional mechanism for financial stability analysis,
- framework for resolution of financial institutions and issues related to IBC,
- data sharing mechanisms of government authorities,
- internationalisation of the Indian rupee and
- pension sector related issues.
About Financial Stability and Development Council (FSDC):
- Financial Stability and Development Council (FSDC) was set up by the Government as the apex level forum in December 2010.
- The Chairman of the Council is the Union Finance Minister and its members include
- The heads of financial sector Regulators (RBI, SEBI, PFRDA, IRDA & FMC)
- Finance Secretary and/or Secretary, Department of Economic Affairs,
- Secretary, Department of Financial Services, and
- Chief Economic Adviser.
- The Council can invite experts to its meeting if required.
InstaLinks
Prelims Link:
- About FSDC
- Composition of FSDC
- Functions of FSDC
Source: The Hindu
