Explanation:

The Financial Stability Board (FSB), an international body for global financial system, has placed India in the league of countries that are ‘compliant or largely compliant’ on implementation of priority area reforms.Other countries that have been found to be ‘compliant or largely compliant’ include Argentina, Australia, Brazil, Canada, China, Hong Kong, Indonesia, Japan, Mexico, South Korea, Russia, Singapore, South Africa, Switzerland, Turkey and the US. The FSB also pointed out that the jurisdictions that have not had an IMF-World Bank Financial Sector Assessment Programme(FSAP) in the last five years are undergoing one in 2017-19 and the countries include India.