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    Question

    The inter-regulatory body to strengthen the mechanism

    for maintaining financial stability and promoting financial sector development is _________
    A NITI Aayog Correct Answer Incorrect Answer
    B Finance Commission Correct Answer Incorrect Answer
    C FSDC Correct Answer Incorrect Answer
    D IBC Correct Answer Incorrect Answer
    E Department of Economic Affairs Correct Answer Incorrect Answer

    Solution

    Financial Stability and Development Council (FSDC) is a Ā non-statutory apex council under the Ministry of FinanceĀ constituted by the Executive Order in 2010. Its objective is toĀ strengthen and institutionalize the mechanismĀ for maintaining financial stability, enhancing inter-regulatory coordination and promoting financial sector development. It is chaired by the Finance Minister and itsĀ members includeĀ the heads of all Financial Sector RegulatorsĀ (RBI,Ā SEBI ,Ā PFRDA Ā &Ā IRDA ),Ā Finance Secretary, Secretary of Department of Economic Affairs (DEA), Secretary of Department of Financial Services (DFS), and Chief Economic Adviser. FSDC sub-committeeĀ is headed by theĀ Governor of RBI.

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