Q. Consider the following statements:
1.Financial Stability and Development Council(FSDC) is a Statutory body.
2.It is chaired by Governor of Reserve Bank of India
3.One of the objectives of the council is to enhance inter-regulatory coordination.
Which of the statements given above is/are incorrect?
Answer: A
Notes:
With a view to strengthening and institutionalizing the mechanism for maintaining financial stability, enhancing inter-regulatory coordination and promoting financial sector development, the Financial Stability and Development Council (FSDC) was set up by the Government as the apex level forum in December 2010.
The Chairman of the Council is the Finance Minister and its members include the heads of financial sector Regulators (RBI, SEBI, PFRDA, IRDA & FMC) Finance Secretary and/or Secretary, Department of Economic Affairs, Secretary, Department of Financial Services, and Chief Economic Adviser.
It is non-statutory apex council under the Ministry of Finance constituted by the Executive Order in 2010.
Source- Article
