The Financial Stability and Development Council (FSDC) has been constituted vide GOI notification dated 30th December, 2010. The Council is chaired by the Union Finance Minister and its members are Governor, Reserve Bank of India; Finance Secretary and/or Secretary, Department of Economic Affairs; Secretary, Department of Financial Services; Chief Economic Adviser, Ministry of Finance; Chairman, Securities and Exchange Board of India; Chairman, Insurance Regulatory and Development Authority and Chairman, Pension Fund Regulatory and Development Authority.

The Council deals, inter-alia, with issues relating to financial stability, financial sector development, inter–regulatory coordination, financial literacy, financial inclusion and macro prudential supervision of the economy including the functioning of large financial conglomerates. No funds are separately allocated to the Council for undertaking its activities.

The Council and its Sub-Committee (chaired by Governor, Reserve Bank of India) deliberate on agenda items proposed by any of the members of the Council which broadly include matters relating to financial stability, inter-regulatory coordination, and financial sector development. The Council/Sub-committee deliberates on these issues and suggests taking appropriate steps, as required.

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(Release ID :95543)

Financial Stability and Development Council coordinates macroprudential supervision and inter-regulatory financial sector development across member agencies. The Financial Stability and Development Council is a consultative body coordinating macroprudential supervision, inter-regulatory coordination, financial sector development, literacy and inclusion, and oversight of systemic risks; it has no separate funding and operates through members proposing agenda items to the Council and its Sub Committee, which deliberate and suggest appropriate steps for implementation by concerned agencies.