The 29th meeting of the FSDC chaired by the Union Finance Minister in Mumbai

Current Context: The 29th meeting of the Financial Stability and Development Council (FSDC) was held on June 10, 2025, in Mumbai, chaired by Union Finance Minister Nirmala Sitharaman.

The meeting brought together key financial sector regulators, including heads of RBI (Sanjay Malhotra), SEBI (Tuhin Kanta Pandey), IRDAI, PFRDA, IFSCA, and IBBI, alongside senior officials from the Ministry of Finance and CERT-In.

Aim

The FSDC aims to fortify macro-financial stability, enhance financial inclusion, and streamline regulatory frameworks to ensure economic resilience and sectoral growth.

Key Highlights

Cybersecurity Strategy: Strengthening cyber resilience in the financial sector.
Financial Inclusion: Streamlining KYC processes for seamless user experience.
Unclaimed Financial Assets: Expediting refunds through district-level camps.
Regulatory Coordination: Enhancing inter-agency collaboration for financial stability.
Factoring Services & Account Aggregator Networks: Improving reach and scope for better financial accessibility.

Question:

Q.1 Who chaired the 29th meeting of the Financial Stability and Development Council (FSDC) held on June 10, 2025?
a) Nirmala Sitharaman
b) Tuhin Kanta Pandey
c) Sanjay Malhotra
d) Governor of RBI

Answer: a) The 29th meeting of the Financial Stability and Development Council (FSDC) was chaired by Union Finance Minister Nirmala Sitharaman.