Financial Stability and Development Council (FSDC): ● Constituted in December 2010. ● It is a Non-statutory body. So, statement 1 is NOT correct. It replaced the High-Level Coordination Committee on Financial Markets (HLCCFM). So, statement 2 is correct. ● Chairman : Union Finance Minister. So, statement 3 is NOT correct. ● Members: ◦ Governor, Reserve Bank of India. ◦ Finance Secretary and/or Secretary, Department of Economic Affairs. ◦ Secretary, Department of Financial Services. ◦ Chief Economic Adviser, Ministry of Finance. ◦ Chairman, SEBI, PFRDA & IRDA. ◦ Recently, the Secretary, Ministry of Electronics and Information Technology (MeitY) is also included in the FSDC.