<Table> <Tr> <Td> </Td> <Td> This article is an orphan, as no other articles link to it . Please introduce links to this page from related articles; try the Find link tool for suggestions . (January 2011) </Td> </Tr> </Table> <Tr> <Td> </Td> <Td> This article is an orphan, as no other articles link to it . Please introduce links to this page from related articles; try the Find link tool for suggestions . (January 2011) </Td> </Tr> <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> <Ul> <Li> Chairperson: The Union Finance Minister of India </Li> <Li> Members: <Ul> <Li> Governor Reserve Bank of India (RBl), </Li> <Li> Finance Secretary and / or Secretary, Department of Economic Affairs (DEA), </Li> <Li> Secretary, Department of Financial Services (DFS), </Li> <Li> Secretary, Ministry of Corporate Affairs, </Li> <Li> Chief Economic Advisor, Ministry of Finance, </Li> <Li> Chairman, Securities and Exchange Board of India (SEBI), </Li> <Li> Chairman, Insurance Regulatory and Development Authority (IRDA), </Li> <Li> Chairman, Pension Fund Regulatory and Development Authority (PFRDA), </Li> <Li> Chairman, Insolvency and Bankruptcy Board of India (IBBI), </Li> </Ul> </Li> <Li> Additional Secretary, Ministry of Finance, DEA, will be the Secretary of the Council, </Li> <Li> The Chairperson may invite any person whose presence is deemed necessary for any of its meeting (s). </Li> </Ul>

Fsdc was setup by the government as the apex level forum in