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The Financial Stability and Development Council (FSDC) -- which is seen as a super regulator -- will meet on Thursday (June 14). This will be the first time FSDC will meet after the Government recently expanded this high-powered body, which was set up in December 2010, to include one of the two junior finance ministers and two more bureaucrats, taking the total number of members to 12 (excluding the Chairperson), a Government official said.
The FSDC meeting for June 14 has a packed agenda, the official said, but declined to elaborate. The Finance Minister is the ex-officio Chairperson of FSDC. Besides the Minister of State in charge of the Department of Economic Affairs, the Government had on May 23 included the Revenue Secretary and the IT Secretary in FSDC.
The Government has so far amended the FSDC structure four times. FSDC is primarily tasked to strengthen and institutionalise the mechanism for maintaining financial stability, enhancing inter-regulatory coordination and promoting financial sector development.
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