Published on: February 23, 2022

FINANCIAL STABILITY AND DEVELOPMENT COUNCIL

FINANCIAL STABILITY AND DEVELOPMENT COUNCIL

http://pulsobeat.com/tag/mc-barg-as/ NEWS

25th Meeting of Financial Stability and Development Council held

compositely FINANCIAL STABILITY AND DEVELOPMENT COUNCIL

  • Been set up by the government in consultation with financial market regulators
  • Set up in 2010
  • Not a statutory body, but autonomous
  • Idea to create such a super regulatory body was first mooted by the Raghuram Rajan Committee in 2008

AIM-

  • Strengthen and institutionalize the mechanism for maintaining financial stability
  • Enhance inter-regulatory coordination and promote financial sector development

FUNCTIONS

  • Monitors macro-prudential supervision of the economy, including functioning of large financial conglomerates
  • Addresses inter-regulatory coordination and financial sector development
  • Focuses on financial literacy and financial inclusion