What does Fsdc stand for?
Coordinates: 28°36′53.2″N 77°12′18.1″E Financial Stability and Development Council (FSDC) is an apex-level body constituted by the government of India.
Who are the members of Fsdc?
Composition: It is chaired by the Finance Minister and its members include the heads of all Financial Sector Regulators (RBI, SEBI, PFRDA & IRDA), Finance Secretary, Secretary of Department of Economic Affairs (DEA), Secretary of Department of Financial Services (DFS), and Chief Economic Adviser.
Is Fsdc a statutory body?
The Financial Stability and Development Council (FSDC) was constituted by an Executive Order of the Union Government as a non-statutory apex body under the Ministry of Finance in 2010.
Who is the chairman of Fsdc?
Nirmala Sitharaman chaired the 24th meeting of the Financial Stability and Development Council (FSDC) here today. The meeting was attended by Dr. Bhagwat Kishanrao Karad, MoS (Finance); Shri Pankaj Chaudhary, MoS (Finance); Shri Shaktikanta Das, Governor, Reserve Bank of India; Dr. T. V.
Who represents RBI in FSDC?
RBI Governor Shaktikanta Das headed Sub-Committee of the FSDC on Wednesday reviewed the major developments in the global and domestic economy as well as financial markets that impact financial stability, the central bank said in a statement.
Who is responsible to maintain the economic stability in India?
The Reserve Bank of India Act, 1934 was amended in 2016 to provide statutory basis for a monetary policy framework, the MPC and the inflation target to be set by the Government of India, in consultation with the Reserve Bank, once in every five years.
What is the meaning of financial stability?
Financial stability is a condition in which an economy’s mechanisms for pricing, allocating, and managing financial risks (credit, liquidity, counterparty, market, etc.) are functioning well enough to contribute to the performance of the economy (as defined above).
What is Global Financial Stability Report?
The Global Financial Stability Report (GFSR) is a semiannual report by the International Monetary Fund (IMF) that assesses the stability of global financial markets and emerging-market financing. It is released twice per year, in April and October.
Is the FSB a regulator?
Mandate of the FSB The FSB promotes international financial stability; it does so by coordinating national financial authorities and international standard-setting bodies as they work toward developing strong regulatory, supervisory and other financial sector policies.
What is the Banking Ombudsman?
The Banking Ombudsman is a senior official appointed by the Reserve Bank of India to redress customer complaints against deficiency in certain banking services covered under the grounds of complaint specified under Clause 8 of the Banking Ombudsman Scheme 2006 (As amended upto July 1, 2017).
Who decides the monetary policy of India?
The Reserve Bank of India (RBI) is vested with the responsibility of conducting monetary policy. This responsibility is explicitly mandated under the Reserve Bank of India Act, 1934.