1) Which of the following are responsibilities of the Financial Stability and Development Council?
1) Inter-Regulatory Coordination
2) Financial Sector Development
3) Financial Literacy
a. 1, 2
b. 1, 3
c. 2, 3
d. All of the above
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Answer
Explanation
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ANSWER: All of the above
Explanation:
The functions and responsibilities are - - Financial Stability
- Financial Sector Development
- Inter-Regulatory Coordination
- Financial Literacy
- Financial Inclusion
- Macro prudential supervision of the economy including the functioning of large financial conglomerates
- Coordinating India's international interface with financial sector bodies like the Financial Action Task Force (FATF), Financial Stability Board (FSB)and any such body as may be decided by the Finance Minister from time to time.
- The institutional structure for India’s Financial Inclusion/ Literacy programme is unique as it has an apex body in the Financial Stability and Development Council (FSDC), headed by the Finance Minister of Government of India, mandated, inter alia, to focus on attaining financial inclusion/ literacy goals.
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