The Committee on Financial Sector Assessment is Co-chaired by whom?

Question

UnlockIAS · Accepted Answer

Correct — B, the Deputy Governor of the Reserve Bank of India and the Finance Secretary, Government of India. The Committee on Financial Sector Assessment (CFSA), set up jointly by the Government of India and the RBI in 2006, was co-chaired by Dr. Rakesh Mohan, then Deputy Governor of the RBI, together with the Finance Secretary, Government of India. It carried out a self-assessment of India's financial sector against international standards and codes, submitting its report in 2009.

Why the other options are wrong — (a) The co-chairs were the Deputy Governor (not the Governor) and the Finance Secretary (not the Finance Minister).  (c) This was a joint Government-RBI body, so one co-chair came from the Finance Ministry — not two officials from the RBI.  (d) Neither the Prime Minister nor the Governor co-chaired the committee.

Concept: The CFSA (2006-2009) was India's first comprehensive self-assessment of financial-sector stability, benchmarking banking, securities and insurance regulation against international standards and codes. Because it was a joint RBI-Government exercise, it was co-chaired from both sides — an RBI Deputy Governor and the Finance Secretary.

State PCS 2020 Q9 — Economy PYQ with Answer

State PCS 2020 Q9 — Economy PYQ with Answer