Executive Summary:
This notification, issued by the Central Government, amends a previous notification from the Ministry of Finance concerning the Financial Stability Division. The amendments, effective May 23, 2018, primarily involve changes to the composition of a committee or council, specifically regarding the roles and titles of its members. The original notification being amended was issued on December 30, 2010, and subsequently modified on August 6, 2013, December 5, 2013, and September 18, 2017.
Key Points / Main Content:
Amendment Details:
The notification substitutes para 2bi to para 2bix of the original notification with an updated list of members.
Updated Member List:
* Minister of State, in-charge of Department of Economic Affairs
* Governor, Reserve Bank of India (RBI)
* Finance Secretary and/or Secretary, Department of Economic Affairs
* Secretary, Department of Revenue
* Secretary, Department of Financial Services
* Secretary, Ministry of Corporate Affairs
* Secretary, Ministry of Electronics and Information Technology
* Chief Economic Adviser, Ministry of Finance
* Chairperson, Securities and Exchange Board of India (SEBI)
* Chairperson, Insurance Regulatory and Development Authority of India (IRDAI)
* Chairperson, Pension Fund Regulatory and Development Authority (PFRDA)
* Chairperson, Insolvency and Bankruptcy Board of India (IBBI)
Impact Analysis:
Ministry of Finance and Department of Economic Affairs:
Impact: The Ministry and Department are directly affected by the updated composition of the council/committee, requiring them to acknowledge the new roles of the members.
Action Required: Update internal records and communication protocols to reflect the changes in member designations.
Reserve Bank of India, Securities and Exchange Board of India, Insurance Regulatory and Development Authority of India, Pension Fund Regulatory and Development Authority, and Insolvency and Bankruptcy Board of India:
Impact: The respective chairpersons/governors now have updated roles within the context of the financial stability framework.
Action Required: Acknowledge the updated member list.
Individual Members (listed by Title):
Impact: Individuals appointed to the listed positions are now formally recognized as members.
Action Required: Be aware of their responsibilities and participation requirements.
Key Entities Referenced
Ministry of Finance: A department of the Government of India responsible for financial matters.
Department of Economic Affairs: A department within the Ministry of Finance, Government of India.
Financial Stability Division: A division within the Department of Economic Affairs, Ministry of Finance.
Reserve Bank of India: The central bank of India.
Securities and Exchange Board of India: The regulator of the securities market in India.
Insurance Regulatory and Development Authority of India: An regulatory body for Insurance companies in India.
Pension Fund Regulatory and Development Authority: An regulatory body for Pension Funds in India.
Insolvency and Bankruptcy Board of India: An regulatory body for Insolvency and Bankruptcy in India.
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EXTRAORDINARY
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PART I—Section 1
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PUBLISHED BY AUTHORITY
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No. 187] NEW DELHI, WEDNESDAY, MAY 23, 2018/JYAISTHA 2, 1940
ििििवववव(cid:3)(cid:3)(cid:3)(cid:3)तत तत मममम(cid:8)(cid:8)(cid:8)(cid:8)ंंंं ााााललललयययय
((((आआआआ(cid:2)(cid:2)(cid:2)(cid:2)थथथथकककक(cid:4)(cid:4)(cid:4)(cid:4) ककककाााायययय (cid:4)(cid:4) (cid:4)(cid:4)ििििववववभभभभाााागगगग))))
((((ििििवववव(cid:13)(cid:13)(cid:13)(cid:13)ीीीीयययय िििि(cid:15)(cid:15)(cid:15)(cid:15)थथथथररररतततताााा (cid:18)(cid:18)(cid:18)(cid:18)भभभभाााागगगग))))
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:4)द(cid:6)ल ी, 23 मई, 2018
फफफफाााा....सससस..ंं..ंं11118888////11114444////2222000011113333....एएएएफफफफएएएएससससडडडडीीीीससससीीीी.... — क(cid:2)(cid:3)ीय सरकार, भारत सरकार, िव(cid:12) मं(cid:15)ालय, आ(cid:18)थक(cid:20) काय(cid:20) िवभाग क(cid:23)
(cid:24)दनाकं 30 (cid:24)दस(cid:29)बर, 2010 क(cid:23) अिधसूचना फा.सं.14/33-2010-ईएम, (cid:24)दनाकं 6 अग)त, 2013, 5 (cid:24)दस(cid:29)बर, 2013 और
18 िसत(cid:29)बर, 2017 क(cid:23) समस0ं यक अिधसूचना1 2ारा यथासंशोिधत, म (cid:2)एत6ारा िन7िलिखत संशोधन करती है :
उ= अिधसूचना म(cid:2), पैरा 2(ख)(i) स ेपरै ा 2 (ख) (ix) के )थान पर, िन7िलिखत Aित)थािपत (cid:24)कए जाएंग,े अथा(cid:20)तः-
'2(ख)(i) "राEय मं(cid:15)ी, आ(cid:18)थक(cid:20) काय(cid:20) िवभाग के Aभारी",
2(ख)(ii) "गवन(cid:20)र, भारतीय fj”koZ बFक (आरबीआई)",
2(ख)(iii) "िव(cid:12) सिचव और/या सिचव, आ(cid:18)थ(cid:20)क काय (cid:20)िवभाग",
2(ख)(iv) "सिचव, राज)व िवभाग",
2(ख)(v) "सिचव, िव(cid:12)ीय सेवाएं िवभाग",
2(ख)(vi) ''सिचव, कारपोरेट काय(cid:20) मं(cid:15)ालय'',
2(ख)(vii) "सिचव, इलैLMॉिनक(cid:23) और सचू ना AौPोिगक(cid:23) मं(cid:15)ालय",
2(ख)(viii) ''म0ु य आ(cid:18)थक(cid:20) सलाहकार, िव(cid:12) मं(cid:15)ालय'',
2(ख)(ix) ''अRयS, भारतीय Aितभिू त और िविनमय बोड (cid:20)(सेबी)'',
2846 GI/2018 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
2(ख)(x) ''अRयS, भारतीय बीमा िविनयामक तथा िवकास Aािधकरण (इरडाई)'',
2(ख)(xi) ''अRयS, प(cid:2)शन िनिध िविनयामक एवं िवकास Aािधकरण (पीएफआरडीए)'',
2(ख)(xii) ''अRयS, भारतीय शोधन अSमता एवं (cid:24)दवािलयापन बोड(cid:20) (आईबीबीआई)''।'।
डॉ. सी. एस. महापा(cid:15), सिचव
िव(cid:12)ीय ि)थरता और िवकास पVरषद
(cid:19)(cid:19)(cid:19)(cid:19)टटटट(cid:21)(cid:21)(cid:21)(cid:21)पपपपणणणणीीीी :::: मलू अिधसूचना (cid:24)दनाकं 30 (cid:24)दस(cid:29)बर, 2010 को फा.सं. 14/33/2010-ईएम के तहत Aकािशत क(cid:23) गई थी और
तXपYात (cid:24)दनाकं 6 अग)त, 2013 को फा.स.ं18/14/2013-एफएसडीसी, (cid:24)दनाकं 5 (cid:24)दस(cid:29)बर, 2013 को
फा.सं.18/14/2013-एफएसडीसी, (cid:24)दनाकं 18 िसत(cid:29)बर, 2017 को फा.सं.18/14/2013-एफएसडीसी के तहत
संशोिधत क(cid:23) गई थी।
MINISTRY OF FINANCE
(Department of Economic Affairs)
(Financial Stability Division)
NOTIFICATION
New Delhi, the 23rd May, 2018
.—
F. No. 18/14/2013-FSDC The Central Government hereby makes the following amendments in the
notification of the Government of India, Ministry of Finance, Department of Economic Affairs, F.No. 14/33/2010-EM
dated 30th December, 2010 as amended vide notifications of even number dated 6th August, 2013, 5th December, 2013
and 18th September 2017.
In the said notification, for para 2(b)(i) to para 2(b)(ix), the following shall be substituted,
namely: -
‘2(b)(i) “Minister of State, in-charge of Department of Economic Affairs”,
2(b)(ii) “Governor, Reserve Bank of India (RBI)”,
2(b)(iii) “Finance Secretary and/ or Secretary, Department of Economic Affairs”,
2(b)(iv) “Secretary, Department of Revenue”,
2(b)(v) “Secretary, Department of Financial Services”,
2(b)(vi) “Secretary, Ministry of Corporate Affairs “,
2(b)(vii) “Secretary, Ministry of Electronics and Information Technology “,
2(b)(viii) “Chief Economic Adviser, Ministry of Finance”,
2(b)(ix) “Chairperson, Securities and Exchange Board of India (SEBI)”,
2(b)(x) “Chairperson, Insurance Regulatory and Development Authority of India (IRDAI)”,
2(b)(xi) “Chairperson, Pension Fund Regulatory and Development Authority (PFRDA)”,
2(b)(xii) “Chairperson, Insolvency and Bankruptcy Board of India (IBBI)”.’.
Dr. C.S. MOHAPATRA, Secy.
Financial Stability and Development Council
Note: The principal notification was published in the Gazette of India, Extraordinary Part I-Section 1, vide F.No.
14/33/2010-EM, dated the 30th December, 2010 and subsequently amended vide notification F.No. 18/14/2013-
FSDC on 6th August, 2013, F.No. 18/14/2013-FSDC on 5th December 2013 and F.No. 18/14/2013-FSDC on 18th
September 2017.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.