With reference to 'Financial Stability and Development Council', consider the following statements : 1. It is an organ of NITI Aayog. 2. It is headed by the Union Finance Minister. 3. It monitors macroprudential supervision of the economy. Which of the statements given above is/are correct?
A
1 and 2 only
B
3 only
C
2 and 3 only
Correct Answer
D
1, 2 and 3
Explanation
Option (c) is correct because the FSDC is chaired by the Union Finance Minister and is specifically mandated to monitor macroprudential supervision and financial stability. Statement 1 is incorrect as the FSDC is an executive body under the Ministry of Finance, not an organ of NITI Aayog. The core concept tested is the institutional structure and regulatory mandate of high-level financial oversight bodies in India.
Financial Sector ReformsFinancial Regulatory BodiesFinancial Stability and Development Council (FSDC)NITI AayogUnion Finance Ministermacroprudential supervisioneconomy