gs1medium

With reference to ‘Financial Stability and Development Council’, consider the following statements:

  1. 1.It is an organ of NITI Aayog.
  2. 2.It is headed by the Union Finance Minister.
  3. 3.It monitors macroprudential supervision of the economy.

Which of the statements given above is/are correct?

  1. A.1 and 2 only
  2. B.3 only
  3. C.2 and 3 only
  4. D.1, 2 and 3
▶ Answer & Explanation

Correct answer: C. 2 and 3 only

The Financial Stability and Development Council (FSDC) was established by the government to address macroeconomic and systemic risks in the financial sector. It is an apex body for macroprudential supervision, headed by the Union Finance Minister, and includes heads of financial sector regulators. It is not an organ of NITI Aayog but functions as an independent statutory body under the Ministry of Finance.

Source: UPSC gs1 2016

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