The inter-regulatory body to strengthen the mechanism

Solution

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