B. Financial Stability and Development Council Explanation: Financial Stability and Development Council is an apex-level body constituted by the government of India. Chairperson: The Union Finance Minister of India Members: Governor Reserve Bank of India (RBl), Finance Secretary and/ or Secretary, Department of Economic Affairs (DEA), Secretary, Department of Financial Services (DFS), Chief Economic Advisor, Ministry of Finance, Chairman, Securities and Exchange Board of India (SEBI), Chairman, Insurance Regulatory and Development Authority (IRDA), Chairman, Pension Fund Regulatory and Development Authority (PFRDA), Chairman, Forward Markets Commission (FMC), Additional Secretary, Ministry of Finance, DEA, will be the Secretary of the Council.