With reference to 'Financial Stability and Development Council', consider the following statements:<br/>1. It is an organ of NITI Aayog.<br/>2. It is headed by the Union Finance Minister.<br/>3. It monitors macroprudential supervision of the economy.<br/><br/>Which of the statements given above is/are correct?

1. It is an organ of NITI Aayog. False. The Financial Stability and Development Council (FSDC) is not a part of NITI Aayog; it was set up by the Government of India in 2010 as an apex-level financial sector body.

2. It is headed by the Union Finance Minister. True. The Chairperson of FSDC is the Union Finance Minister.

3. It monitors macroprudential supervision of the economy. True. One of FSDC’s core functions is to strengthen financial stability through macro-prudential supervision and inter-regulatory coordination.

Hence, statements 2 and 3 only are correct.