set bookmark!

Financial Stability and Development Council, India

Category: Attraction

Address details

Secretariat Building
North Block
Central Secretariat
New Delhi
Delhi 110004
India

New Delhi, India Print route » N28° 36' 53.2" E77° 12' 18.1"   (28.614777777778, 77.205027777778) Start navigation »

Phone & WWW

Business hours

Info

Financial Stability and Development Council (FSDC) is an apex-level body constituted by the government of India. The idea to create such a super regulatory body was first mooted by the Raghuram Rajan Committee in 2008. Finally in 2010, the then Finance Minister of India, Pranab Mukherjee, decided to set up such an autonomous body dealing with macro prudential and financial regularities in the entire financial sector of India. An apex-level FSDC is not a statutory body. The recent global economic meltdown has put pressure on governments and institutions across the globe to regulate their economic assets. This council is seen as India's initiative to be better conditioned to prevent such incidents in future. The new body envisages to strengthen and institutionalise the mechanism of maintaining financial stability, financial sector development, inter-regulatory coordination along with monitoring macro-prudential regulation of economy. No funds are separately allocated to the council for undertaking its activities.

Discussions