The body envisages to strengthen and institutionalize the mechanism of maintaining financial stability, financial sector development, inter-regulatory coordination along with monitoring macro-prudential regulation of the economy.
Composition: It is chaired by the Finance Minister and its members include the heads of all Financial Sector Regulators (RBI, SEBI, PFRDA & IRDA), Finance Secretary, Secretary of Department of Economic Affairs (DEA), Secretary of Department of Financial Services (DFS), and Chief Economic Adviser.
FSDC was set up to replace the High-Level Coordination Committee on Financial Markets ((HLCCFM) i.e High-Level Committee on Capital Markets. High-Level Coordination Committee on Financial Markets (HLCCFM): It is a high-level forum for interface among the financial sector regulators. It was established in the year 1995
The Financial Stability and Development Council (FSDC) is an autonomous agency established by the Government of India
FSDC-SC members include RBI, Sebi and IRDAI