30th Financial Stability and Development Council (FSDC) Meeting

Why Is It in News?

Union Finance Minister Nirmala Sitharaman chaired the 30th FSDC meeting on 23 October 2026. The Council discussed macro-financial stability amid geopolitical uncertainties, the rapid growth of artificial intelligence and rising global bond yields.

About

The Financial Stability and Development Council (FSDC) is an apex-level, non-statutory body established by the Government of India in December 2010. It promotes financial stability, financial sector development and coordination among financial sector regulators.

The Council provides a platform for discussing economic and financial issues that affect the stability and development of India's financial system.

Key Points

1. Meeting: 30th Financial Stability and Development Council meeting.
2. Date: 23 October 2026.
3. Venue: New Delhi.
4. Chairperson: Union Finance Minister Nirmala Sitharaman.
5. Nature of the Council: Apex-level, non-statutory body.
6. Established: December 2010.
7. Major concern: Maintaining financial stability amid geopolitical uncertainty, the AI boom and rising global bond yields.
8. Fintech and digital finance: The Council discussed financial innovation, digital modernisation and the potential of tokenisation of financial assets and other real-world assets.
9. Cybersecurity: It reviewed the Financial Sector Cyber Security Strategy (FSCSS), designed to strengthen cybersecurity and resilience across the financial sector.
10. Critical infrastructure: Discussions covered the protection of Critical Information Infrastructure and cybersecurity preparedness of Regional Rural Banks (RRBs).
11. Investment ecosystem: The Council discussed improving domestic investment flows, including through GIFT-IFSC.
12. Digital financial services: It considered simpler digital KYC and onboarding for Non-Resident Indians (NRIs) and Foreign Portfolio Investors (FPIs).
13. Digital Public Infrastructure: The Council discussed expanding the Account Aggregator and Unified Lending Interface (ULI) frameworks, particularly for Micro, Small and Medium Enterprises (MSMEs).
14. Unclaimed financial assets: The Finance Minister urged faster refunds of unclaimed deposits, dividends, shares, insurance funds and other financial assets under the “Your Money, Your Right” campaign.
15. Importance: The meeting aimed to strengthen regulatory coordination, address emerging financial risks and improve the resilience of India's financial system.