Question
With reference to ‘Financial Stability and Development Council', consider the following statements
1. It is an organ of NITI Aayog.
2. It is headed by the Union Finance Minister.
3. It monitors macro prudential supervision of the economy.
Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 3 only
(c) 2 and 3 only
(d) 1, 2 and 3
Answer:
C
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Explanation:
The Financial Stability and Development Council (FSDC) is not an organ of NITI Aayog. It is a statutory body established by the Government of India in 2010. T
he FSDC is headed by the Union Finance Minister and includes other members such as the Governor of the Reserve Bank of India (RBI), the heads of regulatory authorities, and senior government officials.
Its primary mandate is to maintain financial stability in the country and promote financial sector development. The FSDC focuses on issues related to financial stability, inter-regulatory coordination, macro-prudential supervision of the economy, and financial sector development.