16th meeting of financial stability and development council was held in New Delhi

TNPSC Current Affairs January 6 2016

The 16^th Meeting of FSDC was held in New Delhi under the chairmanship of the Union Finance minister Arun Jaitley. It was attended by RBI Governor Urjit Patel and all financial sector regulator as its members

The 16^th edition of FSDC held to discuss about the major issues and challenges faced by the economy and to bring the solution to tackle them.

About FSDC.

Financial Stability and development council is an regulatory body set up in 2010, which was coined by then Reserve Bank Governor Raghuram Rajan in 2008  for bringing healthy and efficient financial system in the economy.

The Chairman will be the finance minister and its members include, heads of financial sector Regulators( RBI, SEBI(Securities and Exchange board of India),PFRDA(Pension Fund Regulatory and Development Authority),IRDA (Insurance Regulatory and Development Authority )& FMC(Forward Market Commission)) finance secretary , Department of Economic Affairs, Secretary, Department of Financial Services and Chief Economic Adviser. The Council can invite experts if required.