FSDC stresses on vigilance, reforms amid global uncertainty & AI boom
Finance minister Nirmala Sitharaman led an important session of the Financial Stability and Development Council, focusing on maintaining financial stability amidst looming geopolitical tensions and fluctuating global bond yields. Key topics included fostering a robust domestic investment climate, ensuring effective capital movement for reform, and addressing cybersecurity needs within the…
Union Finance Minister Nirmala Sitharaman has called for more frequent meetings of the Financial Stability and Development Council (FSDC) to address emerging risks to India's financial stability, including geopolitical uncertainties, the AI boom, and rising global bond yields. At its 30th meeting chaired by Sitharaman, the council emphasized the need for vigilance and proactive measures to mitigate potential risks while maintaining the financial system's resilience.
Key agenda items included promoting fintech innovation, exploring tokenization of assets, strengthening cyber resilience, and deepening financial sector reforms. The council also discussed cybersecurity, cybercrime preparedness, and protection systems, as well as implementing earlier decisions and budget announcements. Sitharaman urged regulators to expedite refunds of unclaimed financial assets and take additional measures to ensure timely returns to rightful owners.
The meeting brought together key financial sector regulators and government representatives from various ministries and regulatory bodies.
Written by urgent.news from Live Mint's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
