Consider the following statements about Financial Stability and Development Council FSDC 1 This Coun...........

Economic Affairs Financial Institutions

Consider the following statements about Financial Stability and Development Council (FSDC)

1.This Council would monitor macro prudential supervision of the economy, including the functioning of large financial conglomerates.

2.A sub-committee of FSDC has also been set up under the chairmanship of Finance Secretary.

3.Governor of RBI is the chairperson of this council.

How many of the statements given above are correct?

Only One

Only Two

All Three

None

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Explanation:

This Council would monitor macroprudential supervision of the economy, including the functioning of large financial conglomerates. (correct - The Financial Stability and Development Council (FSDC) does indeed monitor macroprudential supervision, including the functioning of large financial conglomerates.)

A sub-committee of FSDC has also been set up under the chairmanship of the Finance Secretary. (Incorrect - The statement is incorrect. The sub-committee of FSDC is chaired by the Governor of the Reserve Bank of India (RBI), not the Finance Secretary.)

Governor of RBI is the chairperson of this council. (Incorrect - The chairperson of the FSDC is the Minister of Finance, not the Governor of the RBI.)