- Statement 1 is incorrect. The Financial Stability and Development Council (FSDC) was established by the Government of India in December 2010. It is not an organ of NITI Aayog. It is a high-level body within the Ministry of Finance. - Statement 2 is correct. The FSDC is chaired by the Union Finance Minister of India. - Statement 3 is correct. One of the key mandates of the FSDC is to monitor macroprudential supervision of the economy, focusing on financial sector stability and inter-regulatory coordination.
With reference to 'Financial Stability and Development Council', consider the following statements : 1. It is an organ of NITI Aayog. 2. It is headed by the Union Finance Minister. 3. It monitors macroprudential supervision of the economy. Which of the statements given above is/are correct?
Asked in UPSC IAS 2016 · Topic: Lokpal and Important Commissions (Central Vigilance Commission (CVC): Mandate, structure, appointment, and functions)
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