The correct answer is C. Both 1 and 2.
The Financial Stability and Development Council (FSDC) is a high-level forum chaired by the Finance Minister of India. It was set up in 2010 to strengthen and institutionalize the mechanism for maintaining financial stability in India. The FSDC has the following core objectives:
- To act as an apex level forum to strengthen and institutionalize the mechanism for maintaining financial stability.
- To enhance inter-regulatory coordination and promote financial sector development in the country.
- To identify and address emerging risks to financial stability.
- To promote financial literacy and awareness among the public.
- To coordinate the implementation of financial sector reforms.
The FSDC has been instrumental in promoting financial stability in India. It has played a key role in the implementation of several reforms, including the introduction of the Basel III norms and the strengthening of the regulatory framework for non-banking financial companies. The FSDC has also been working to enhance inter-regulatory coordination and promote financial sector development in the country.
The FSDC is a valuable forum for discussing and coordinating financial sector policies in India. It has played a key role in promoting financial stability and development in the country.