Financial Stability and Development Council
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 macroprudential supervision of the economy.
Options
1 and 2 only
3 only
2 and 3 only
1, 2 and 3
Explanation
The Financial Stability and Development Council (FSDC) is not an organ of NITI Aayog, so Statement 1 is incorrect. It is an inter-ministerial body constituted in 2010. Statement 2 is correct as it is chaired/headed by the Union Finance Minister. Statement 3 is correct as the FSDC is responsible for monitoring macroprudential supervision of the financial system and coordinating financial sector regulation in India. The correct answer is 2 and 3 only.
Question details
Year
2016
Paper
GS Paper 1
Question
Q56
Subject
Economy
Sub-topic
Financial Regulation
Type
Statement-based
Difficulty
Medium
Nature
Static
Source hint
NCERT Economy Ch. Financial System
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