FSDC 30th meeting: FM Sitharaman reviews financial stability risks
Why in the news
Union Finance Minister Nirmala Sitharaman presided over the 30th meeting of the Financial Stability and Development Council (FSDC) in New Delhi on 23 October 2026.
Key facts
- Risk review: Members assessed India’s readiness for financial shocks arising from geopolitical tensions, the AI boom and sharply higher global bond yields, and agreed on vigilance and early risk mitigation.
- FSCSS: The council noted the Financial Sector Cyber Security Strategy, framed by an Inter-Ministerial Group of regulators and cyber agencies working with DEA, DFS and MeitY.
- Cyber readiness: Protection of Critical Information Infrastructure and the cyber preparedness of Regional Rural Banks were reviewed.
- Tokenisation: Fintech innovation and tokenisation of financial and other real-world assets were discussed.
- KYC: Simpler, digital KYC and onboarding for NRIs and FPIs was taken up.
- DPI: Scaling up the Account Aggregator and Unified Lending Interface (ULI), with a focus on MSMEs.
- Unclaimed assets: The FM asked for quicker return of unclaimed bank deposits, dividends, shares, post office balances, insurance and pension funds; the district-level ‘Your Money, Your Right’ campaign was cited.
- The FM also suggested that FSDC meet more often on a fixed calendar.
Key attendees
| Body | Head |
|---|---|
| RBI (Governor) | Sanjay Malhotra |
| SEBI | Tuhin Kanta Pandey |
| IRDAI | Ajay Seth |
| IFSCA | K. Rajaraman |
| Chief Economic Adviser | V. Anantha Nageswaran |
| CERT-In (DG) | Sanjay Bahl |
About FSDC
FSDC brings together financial sector regulators and key ministries under the chairmanship of the Union Finance Minister. Its Sub-Committee is headed by the RBI Governor. Its secretariat sits in the Department of Economic Affairs, with Aparna Sinha as Secretary of the FSDC.
Exam angle
- FSDC chair is the Finance Minister; Sub-Committee chair is the RBI Governor.
- 30th meeting held on 23 October 2026 in New Delhi.
- Remember FSCSS, ULI and the ‘Your Money, Your Right’ campaign.