While the Sub-Committee under the Governor of the Reserve Bank is expected to evolve as a more active, hands-on body for financial stability in normal times, the FSDC would have broad oversight and will assume central role in crisis times. 30. There is another interesting dimension to the mandate of the FSDC.
Note that the acronym also includes the letter “D” which stands for development. In the budget speech, the Finance Minister indicated that the development role will cover issues like financial inclusion and financial literacy which, by their very nature, are shared objectives of the Government and the regulators and have to be pursued synergistically.