Who chairs the Financial Stability and Development Council?

Q.  Which of the following is/are true regarding Financial Stability and Development Council?

1) The Chairperson is the Governor of RBI.
2) SEBI, IRDA and PFRDA are represented in the council.
- Published on 15 Nov 16

a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2

ANSWER: Only 2
 
Chairperson: The Union Finance Minister of India . The members are -
  • Governor Reserve Bank of India (RBl),
  • Finance Secretary and/ or Secretary, Department of Economic Affairs (DEA),
  • Secretary, Department of Financial Services (DFS),
  • Chief Economic Advisor, Ministry of Finance,
  • Chairman, Securities and Exchange Board of India (SEBI),
  • Chairman, Insurance Regulatory and Development Authority (IRDA),
  • Chairman, Pension Fund Regulatory and Development Authority (PFRDA),
  • Chairman, Forward Markets Commission (FMC),
  • Recently Forward Markets Commission (FMC) has been merged into SEBI.
  • Additional Secretary, Ministry of Finance, DEA, will be the Secretary of the Council,
  • The Chairperson may invite any person whose presence is deemed necessary for any of its meeting(s).

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