Which of the following statements accurately reflects the mandate of the Financial Stability and Development Council (FSDC) in India?
Correct: B
The FSDC is a non-statutory apex body constituted to address macro-prudential and financial stability issues. It aims to strengthen and institutionalize the mechanisms for maintaining financial stability and promoting inter-regulatory coordination. It's not a statutory body, doesn't regulate all financial institutions, and isn't an advisory body to the RBI on monetary policy.