PIB · Ministry of Finance ·

Union Finance Minister Nirmala Sitharaman Chairs 30th FSDC Meeting in New Delhi to Review Financial Stability and Fintech Innovation

Distilled Policy Brief

  • The council discussed measures to promote innovation in the fintech sector, explore tokenization of financial and real assets, and review the cyber security strategy for the financial sector.
  • The Finance Minister urged regulatory bodies and stakeholders to expedite the process of returning unclaimed financial assets to their rightful owners.

🎯 Prelims High-Yield Examination Points

The Financial Stability and Development Council (FSDC) is chaired by the Union Finance Minister, and its sub-committee is headed by the Governor of the Reserve Bank of India.

⚖️ Mains Analytical & Syllabus Linkages

Analyze the role of the Financial Stability and Development Council (FSDC) in maintaining macro-financial stability, enhancing inter-regulatory coordination, and addressing emerging digital and cyber security risks in India's financial sector.

🎯 UPSC Prelims Practice Drill

Economy

With reference to the recent 30th meeting of the Financial Stability and Development Council (FSDC), consider the following statements: 1. The council discussed measures to promote innovation in the fintech sector and explore the tokenization of financial and real assets. 2. The council reviewed the Cybersecurity Strategy for the Financial Sector (FSCS) prepared by an Inter-Ministerial Group. 3. The meeting was chaired by the Governor of the Reserve Bank of India. Which of the statements given above are correct?

  • [A] 1 and 2 only
  • [B] 2 and 3 only
  • [C] 1 and 3 only
  • [D] 1, 2 and 3
▶ Reveal Official Answer & Analytical Explanation
✓ Correct Option: [A] 1 and 2 only

Statements 1 and 2 are correct as the FSDC meeting discussed promoting innovation in the fintech sector, exploring asset tokenization, and reviewed the Cybersecurity Strategy for the Financial Sector (FSCS). Statement 3 is incorrect because the FSDC meeting was chaired by the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, not the RBI Governor.

Tark High-Yield Question Bank ⚡ Practice Full Test in Testing Arena ↗

🏛️ Historical Twin PYQ Anchor (2021)

UPSC Prelims 2021

Consider the following statements regarding the "National Clean Air Programme (NCAP)": 1. It is implemented by the Ministry of Environment, Forest and Climate Change. 2. Central Pollution Control Board acts as the sole regulatory executive body.

Forensic Anchor: Cabinet Allocation of Business Rules & NCAP Framework
Examiner Trap Takeaway: UPSC swapped Central Pollution Control Board role with State Pollution Control Boards for state-level monitoring.

📚 Static Syllabus & Constitutional Linkages

Financial Stability and Development Council (FSDC): Apex-level body constituted by the Government of India to strengthen and institutionalize the mechanism for maintaining financial stability and enhancing inter-regulatory coordination.