Pariksha SaathiFinance Minister chairs 30th FSDC meeting; Council takes note of the Financial Sector Cyber Security Strategy
Union Finance Minister Nirmala Sitharaman chaired the 30th meeting of the Financial Stability and Development Council (FSDC) in New Delhi on 23 October 2026. The Council reviewed macro-financial stability amid geopolitical uncertainties, the AI boom and a steep rise in global bond yields, and stressed vigilance and proactive steps to mitigate risks. It reviewed the cyber resilience of the financial sector and took note of the Financial Sector Cyber Security Strategy (FSCSS) formulated by an Inter-Ministerial Group of financial sector regulators and cybersecurity agencies, and discussed fintech innovation, tokenisation of financial and other real-world assets, simpler KYC with digital onboarding for NRIs and FPIs, and the Account Aggregator and Unified Lending Interface (ULI) frameworks for MSMEs. The Finance Minister urged faster refund of unclaimed assets to their rightful owners and asked for FSDC meetings at more frequent intervals with a predefined schedule. The FSDC Sub-Committee is chaired by the RBI Governor.
Drafted with AI assistance from the official PIB release linked above and checked against it by a second AI pass. Not line-edited by a human.
Learning context
The 29th meeting of the FSDC was held in Mumbai on 10 June 2025, chaired by the Union Finance Minister. In light of an analysis of cybersecurity regulations, sectoral preparedness and the recommendations of the Financial Sector Assessment Programme (FSAP) 2024-25, it considered strengthening the cyber resilience of the financial sector through a financial sector-specific cybersecurity strategy, and the Finance Minister urged regulators to hold special district-level camps to refund unclaimed bank deposits, shares, dividends, insurance and pension funds to their rightful owners.
Check yourself: where was the 29th FSDC meeting held, and the recommendations of which programme did it weigh when it considered a financial sector-specific cybersecurity strategy?
In Mumbai, on 10 June 2025; the Financial Sector Assessment Programme (FSAP) 2024-25.
Revision task: from this release, note the meeting number, its chair, the three global risks named, the strategy the Council took note of and the frameworks discussed for MSMEs; from the note, the 29th meeting's venue and date.
Test yourself
Who chaired the 30th meeting of the Financial Stability and Development Council (FSDC), held in New Delhi on 23 October 2026?
Show the answer
Answer: Union Finance Minister Nirmala Sitharaman
Union Minister for Finance & Corporate Affairs Nirmala Sitharaman chaired the 30th FSDC meeting. The FSDC Sub-Committee is chaired by the RBI Governor, who attended the meeting.
Read the daily collection → · Editorial standards & corrections