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FSDC meeting: A sparse agenda points to the Council's growing irrelevance

So far, FSDC has only been about trivial details, forming sub-committee after sub-committee, without exercising the authority its mandate allows it, even as long-standing disputes remain unresolved

Jaitley, Urjit, Ajay Tyagi
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Union Finance Minister Arun Jaitley (right) with RBI Governor Urjit Patel and Sebi Chairperson Ajay Tyagi (left) at the FSDC meeting in New Delhi on Tuesday. Photo:PTI

Arup Roychoudhury New Delhi
The Financial Stability and Development Council (FSDC), established in 2010, and whose 20th meeting was held on Tuesday, is a ‘super-regulator’ on paper at least. It is supposed to be a forum where issues that affect the country’s financial and regulatory framework, and their solutions, are discussed threadbare.

The FSDC brings all the financial sector regulators on one table to handle matters relating to financial stability, inter-regulatory coordination, and financial sector development, as its own terms of reference notes.

However, going by the latest meeting, and those before it, there are growing concerns about the FSDC’s irrelevance. So far, the FSDC has

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First Published: Oct 31 2018 | 12:40 PM IST

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