Nirmala Sitharaman chairs 30th FSDC meeting; Council notes 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, which reviewed macro-financial stability and took note of the Financial Sector Cyber Security Strategy (FSCSS).
Summary
The 30th meeting of the Financial Stability and Development Council (FSDC) was held in New Delhi on 23 October 2026 under the chairmanship of Union Finance Minister Nirmala Sitharaman. The Council reviewed macro-financial stability amid geopolitical uncertainties, the AI boom and a steep rise in global bond yields, and discussed fintech innovation and tokenisation of financial and real-world assets. It took note of the Financial Sector Cyber Security Strategy (FSCSS) formulated by an Inter-Ministerial Group of regulators and cybersecurity agencies. The FSDC also discussed investment flows into GIFT-IFSC, simpler digital KYC for NRIs and FPIs, and scaling up the Account Aggregator and Unified Lending Interface (ULI) for MSMEs.
Key facts
- Meeting
- 30th meeting of FSDC
- Date / place
- 23 October 2026, New Delhi
- Chair
- Union Finance Minister Nirmala Sitharaman
- Cyber security
- Took note of Financial Sector Cyber Security Strategy (FSCSS) by an Inter-Ministerial Group
- Risks flagged
- Geopolitical uncertainty, AI boom, steep rise in global bond yields
- Fintech
- Tokenisation of financial and real-world assets discussed
- DPI
- Account Aggregator and Unified Lending Interface (ULI) for MSMEs
- Other
- GIFT-IFSC investment, digital KYC for NRIs/FPIs, refund of unclaimed assets ('Your Money, Your Right')
Practice MCQs 2 questions
The 30th meeting of the Financial Stability and Development Council (FSDC), held on 23 October 2026, was chaired by whom?
Show answer
Correct answer: A — Union Finance Minister Nirmala Sitharaman
At its 30th meeting in October 2026, the FSDC took note of which strategy formulated by an Inter-Ministerial Group?
Show answer
Correct answer: B — Financial Sector Cyber Security Strategy (FSCSS)