Finance minister will chair FSDC meeting in Mumbai to review financial sector and regulatory coordination
MUMBAI: The finance minister will chair the 29th meeting of the Financial Stability and Development Council (FSDC) in Mumbai on June 10, as the economy contends with global uncertainties and slower domestic growth.
The meeting will bring together key financial regulators, including
RBI
, SEBI, IRDAI, and PFRDA, to review financial sector developments and strengthen regulatory coordination.
Formed in 2010 in response to the global financial crisis, the FSDC serves as the principal platform for dialogue between the finance ministry and financial regulators. This will be the council's first meeting since India's GDP growth slowed to 6.5% in FY25, the lowest in four years, and follows the RBI's record dividend transfer of Rs 2.7 lakh crore for the fiscal year.While the agenda has not been formally disclosed, the council is expected to assess the resilience of the financial system, monitor capital flows, and discuss the outlook for credit growth amid global monetary tightening.
The meeting may also cover risks from digital fraud, regulatory challenges posed by fintechs, and efforts to improve supervision across the financial ecosystem.Instances of cross-sector misconduct, including fraud and misselling involving banks and financial intermediaries, have prompted a shift towards more integrated oversight.
RBI, SEBI, and IRDAI have been working under the FSDC framework to align norms on product suitability, KYC compliance, and bancassurance practices.
Efforts to streamline regulation, such as the Central KYC Registry, are likely to remain part of the broader discussion. Though technical, such initiatives aim to improve transparency, reduce compliance burdens, and protect consumers.With global markets volatile and credit demand evolving, institutional coordination under the FSDC is becoming increasingly relevant to managing systemic risk and guiding India's next phase of financial and economic growth.
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