With reference to the Financial Stability and Development Council (FSDC), consider the following statements:1. It is a statutory body.2. No funds are separately allocated to the council for undertaking its activities.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?

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With reference to the Financial Stability and Development Council (FSDC), consider the following statements:

1. It is a statutory body.

2. No funds are separately allocated to the council for undertaking its activities.

Which of the statements given above is/are correct?

a)
1 only
b)
2 only
c)
Both 1 and 2
d)
Neither 1 nor 2

Correct answer is option 'B'. Can you explain this answer?

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Daily Current Affairs MCQ - February 25, 2022

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With reference to the Financial Stability and Development Council (FSD...

The 25th meeting of the Financial Stability and Development Council (FSDC) was held in Mumbai, under the Chairpersonship of Union Finance Minister Nirmala Sitharaman.

It was setup in 2010 by Indian Government as an executive body. It replaced the High Level Coordination Committee on Financial Markets (HLCCFM). The idea to create such a super regulatory body was first mooted by the Raghuram Rajan Committee in 2008.
Status: FSDC is not a statutory body. No funds are separately allocated to the council for undertaking its activities.
Objective: Its objectives are to strengthen and institutionalize the mechanism for maintaining financial stability and Enhancing inter-regulatory coordination. It also focuses on financial literacy and financial inclusion.
Composition: It is chaired by the Union Finance Minister of India. The other 12 members are
- Governor, RBI,
- Chairman, SEBI,
- Chairman, IRDA,
- Chairman, PFRDA,
- Minister of state responsible for the Department of Economic Affairs (DEA),
- Secretary of Department of Electronics and Information Technology’,
- Revenue secretary,
- Finance Secretary and/or Secretary, Department of Economic Affairs;
- Secretary, Department of Financial Services;
- Secretary, Ministry of Corporate Affairs,
- Chief Economic Adviser and
- Chairperson of the Insolvency & Bankruptcy Board of India (IBBI).
Sub-committee of FSDC: A sub-committee of FSDC has also been set up under the chairmanship of Governor RBI. It discusses and decides on a range of issues relating to financial sector development and stability including substantive issues relating to inter-regulatory coordination.

Hence only statement 2 is correct.

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With reference to the Financial Stability and Development Council (FSDC), consider the following statements:1. It is a statutory body.2. No funds are separately allocated to the council for undertaking its activities.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?

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With reference to the Financial Stability and Development Council (FSDC), consider the following statements:1. It is a statutory body.2. No funds are separately allocated to the council for undertaking its activities.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Financial Stability and Development Council (FSDC), consider the following statements:1. It is a statutory body.2. No funds are separately allocated to the council for undertaking its activities.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Financial Stability and Development Council (FSDC), consider the following statements:1. It is a statutory body.2. No funds are separately allocated to the council for undertaking its activities.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?.

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