Which of these are the functions responsibilities of the Financial Stability and Development Council...........

Economic Affairs Inflation

Which of these are the functions/responsibilities of the Financial Stability and Development Council (FSDC) that is chaired by the Union Minister of Finance?

Inter-regulatory coordination amongst various financial agencies
Focus on financial literacy and financial inclusion
Assess the functioning of large financial conglomerates
Set inflationary targets for the Reserve Bank of India

Select the correct answer using the codes below.

1 and 4 only

2 and 3 only

1, 2 and 3 only

1,2,3 and 4

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Explanation:

FSDC is super regulatory body for regulating financial sector which is a vital for bringing healthy and efficient financial system in the economy. The FSDC envisages to strengthen and institutionalize mechanism of (i) maintaining financial stability, (ii) Financial sector development, (iii) inter-regulatory coordination along with monitoring macro-prudential regulation of economy. Heads of the financial sector regulatory authorities (i.e., RBI, SEBI, IRDA, PFRDA), Finance Secretary and others are its members.