Union Minister for Finance chairs Meeting of Financial Stability and Development Council
Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman chaired the 30th Meeting of the Financial Stability and Development Council (FSDC) along with FSDC members in New Delhi, today.
The FSDC, inter alia, deliberated on issues related to macro financial stability and India’s preparedness to deal with them. Considering the importance of regulatory improvisation and digital modernization in the financial sector, the FSDC discussed measures towards promoting innovation in the Fintech sector and exploring the prospects of tokenisation of financial assets and other real-world assets.
The Council reviewed the cyber resilience of the Indian financial sector and took note of the Financial Sector Cyber Security Strategy (FSCSS) formulated by an Inter-Ministerial Group (IMG) comprising of financial sector regulators and cybersecurity agencies, in coordination with the DEA, DFS and MeitY.
The FSDC meeting was also attended by Sanjay Malhotra, Governor, Reserve Bank of India; Ms. Anuradha Thakur, Secretary, Department of Economic Affairs, Ministry of Finance; Shri Sanjay Lohiya, Secretary, Department of Financial Services, Ministry of Finance; Arvind Shrivastava, Secretary, Department of Revenue, Ministry of Finance; S. Krishnan, Secretary, Ministry of Electronics and Information Technology; Dr. Pallavi Jain Govil, Secretary, Ministry of Corporate Affairs; Dr. V. Anantha Nageswaran, Chief Economic Adviser, Ministry of Finance; Tuhin Kanta Pandey, Chairperson, Securities and Exchange Board of India; Ajay Seth, Chairperson, Insurance Regulatory and Development Authority of India; K. Rajaraman, Chairperson, International Financial Services Centres Authority; S. Ramann, Chairperson, Pension Fund Regulatory and Development Authority; Jayanti Prasad, Acting Chairperson, Insolvency and Bankruptcy Board of India; Dr. Sanjay Bahl, Director General, Indian Computer Emergency Response Team (CERT-In); and Ms. Aparna Sinha, Secretary of the FSDC, Department of Economic Affairs, Ministry of Finance. (UPDATED ON 23RD OCTOBER 2026)
