<P> Financial Stability and Development Council ( FSDC ) is an apex - level body constituted by the government of India . The idea to create such a super regulatory body was first mooted by the Raghuram Rajan Committee in 2008 . Finally in 2010 , the then Finance Minister of India , Pranab Mukherjee , decided to set up such an autonomous body dealing with macro prudential and financial regularities in the entire financial sector of India . An apex - level FSDC is not a statutory body . The recent global economic meltdown has put pressure on governments and institutions across the globe to regulate their economic assets . This council is seen as India 's initiative to be better conditioned to prevent such incidents in future . The new body envisages to strengthen and institutionalise the mechanism of maintaining financial stability , financial sector development , inter-regulatory coordination along with monitoring macro-prudential regulation of economy . </P>
<P> Financial Stability and Development Council ( FSDC ) is an apex - level body constituted by the government of India . The idea to create such a super regulatory body was first mooted by the Raghuram Rajan Committee in 2008 . Finally in 2010 , the then Finance Minister of India , Pranab Mukherjee , decided to set up such an autonomous body dealing with macro prudential and financial regularities in the entire financial sector of India . An apex - level FSDC is not a statutory body . The recent global economic meltdown has put pressure on governments and institutions across the globe to regulate their economic assets . This council is seen as India 's initiative to be better conditioned to prevent such incidents in future . The new body envisages to strengthen and institutionalise the mechanism of maintaining financial stability , financial sector development , inter-regulatory coordination along with monitoring macro-prudential regulation of economy . </P>
fsdc was setup by the government as the apex level forum in
fsdc was setup by the government as the apex level forum in
government of India
government of India