Financial Stability and Development Council (FSDC)

Union Finance Minister Nirmala Sitharaman chaired the 29th meeting of the Financial Stability and Development Council (FSDC) in Mumbai in June 2025. She urged financial regulators to expedite refunds of unclaimed deposits, shares, insurance, and pension funds through special district-level camps, stressing the importance of protecting citizens’ interests and ensuring a smooth refund process.

Key issues discussed at the meeting included:

• Enhancing macro-financial stability
• Streamlining KYC norms
• Reducing unclaimed financial assets
• Strengthening cybersecurity in the financial sector

About FSDC:

• Constituted by Government of India on 30th December 2010
• Chaired by the Union Finance Minister
• Focuses on:
  • Financial stability
  • Development of the financial sector
  • Inter-regulatory coordination
  • Financial literacy and inclusion
  • Macroprudential supervision, including oversight of large financial conglomerates
• Operates without a separate budget
• Its Sub-Committee, chaired by the RBI Governor, discusses issues like regulatory coordination and sector development