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    Question

    Identify the correct statement about Financial

    Stability & Development Council. 1.            It became operational in 2010 2.            All regulatory bodies have representation in FSDC 3.            It is Chaired by RBI Governor
    A 1, 2 and 3 Correct Answer Incorrect Answer
    B 1 and 2 only Correct Answer Incorrect Answer
    C 3 only Correct Answer Incorrect Answer
    D 1 and 3 only Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    The Financial Stability and Development Council (FSDC) was set up as the apex level forum in 2010. The Council, inter alia, monitors macro prudential supervision of the economy including functioning of large financial conglomerates, and addresses inter-regulatory coordination and financial sector development issues, including issues relating to financial literacy and financial inclusion. It is headed by Finance Minister.

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