Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman has chaired the 24th meeting of the Financial Stability and Development Council (FSDC). Finance Minister is the chairperson of FSDC. It must be noted that FSDC Sub-Committee is chaired by the Governor, RBI.
About the Financial Stability and Development Council (FSDC):
- Financial Stability and Development Council (FSDC) is the apex level forum set up by the Government of India for strengthening and institutionalizing the mechanism for maintaining financial stability, enhancing inter-regulatory coordination and promoting financial sector development.
- The Council also, inter alia, discussed issues relating to the management of stressed assets, strengthening institutional mechanism for financial stability analysis, financial inclusion, the framework for resolution of financial institutions and issues related to IBC processes, banks’ exposure to various sectors and Government, data sharing mechanisms of government authorities, internationalisation of Indian Rupee and pension sector related issues.