Consider the following statements with reference to the Financial Stability and Development Council ...........

Economic Affairs Financial Institutions

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Consider the following statements with reference to the Financial Stability and Development Council (FSDC):

1.The Council is responsible for maintaining financial stability and enhancing inter-regulatory coordination.

2.The council is chaired by union finance minister.

Which of the statements given above is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

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Explanation:

Both 1 and 2

The Financial Stability and Development Council (FSDC): The FSDC is indeed responsible for maintaining financial stability and enhancing inter-regulatory coordination. It was set up to strengthen and institutionalize the mechanism for maintaining financial stability, financial sector development, inter-regulatory coordination, and addressing macro-prudential concerns.

Chaired by Union Finance Minister: The FSDC is chaired by the Union Finance Minister. This statement is also correct. The Finance Minister of India serves as the Chairperson of the Financial Stability and Development Council.

Therefore, both statements are accurate.