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Union Finance Minister chairs 28th meeting of FSDC in New Delhi

New Delhi: The 28th meeting of the Financial Stability and Development Council (FSDC) was led by Union Finance Minister Nirmala Sitharaman in New Delhi. The council concentrated on enhancing coordination among regulatory bodies in the financial sector to support inclusive economic growth.

It stressed the importance of staying vigilant and proactive in identifying emerging financial stability risks, both domestically and globally. Additionally, strategies were discussed to simplify and digitize the Know Your Customer (KYC) process in the financial sector, initiate fundraising for social enterprises through social stock exchanges, and implement measures to curb unauthorized lending through online platforms. 

The council also reviewed progress on previous decisions and actions taken by its members. Attendees included various ministers, secretaries, and heads of regulatory authorities.

This story has been sourced from PIB.

Tags: BFSI