Question: Consider the following statements:
(1) The financial stability Board is an international Body that monitors and makes recommendations about the global financial system
(2) The Board includes all G-20 major economies
(3) India is a member of FSB
Choose the correct option:
(a) All the statements are correct
(b) Only statements 1 & 2 are correct
(c) Only statement 1 is correct
(d) Only statement 2 is correct
Answer: (a)
Related facts:
- Recently RBI drafted new rules aimed at ensuring that rewards for senior executives in private and foreign banks are in sync or aligned with the risk taking after the 2008 global financial crisis, the Indian Central Bank too is set to squeeze executive compensation.
- The FSB is an international body that monitors and makes recommendations about the global financial system.
- It was established after the G20 summit in April 2009 as a successor to the financial stability Forum (FSF).
- The Board includes all G20 Major Economics, FSB members and the European Commission.
- Hosted and funded by the Bank for International settlements the Board is leased In Basel, Switzerland.
- India too is a member of FSB.
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