• Union Finance Minister Nirmala Sitharaman chaired the 28th Meeting of the Financial Stability and Development Council (FSDC) in New Delhi

ABOUT FSDC

• It was set up by the Government as the apex-level forum in 2010.
• It is not a statutory body. No funds are separately allocated to it for undertaking its activities.
• Composition of FSDC-
  • It is chaired by the Union Finance Minister of India.
  • Its members include the heads of financial sector Regulators (RBI, SEBI, PFRDA, IRDA & FMC) Finance Secretary and/or Secretary, Department of Economic Affairs, Secretary, Department of Financial Services, and Chief Economic Adviser.
  • The Council can invite experts to its meeting if required.
• The Council deals, inter-alia, with issues relating to financial stability, financial sector development, and inter–regulatory coordination, etc.