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·         The Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman chaired the 24th meeting of the Financial Stability and Development Council (FSDC).

·         The Finance Minister is the Chairman of the FSDC. It is to be noted that the FSDC sub-committee is chaired by the Governor of RBI.

Important facts

About FSDC: Financial Stability and Development Council

v  Founded: December 2010

v  FSDC is an apex-level body that was set up by the Government of India to form a super regulatory body.

v  Its establishment was first recommended by the Raghuram Rajan Committee in 2008.