FSDC reviews cyber resilience and urges faster return of unclaimed financial assets

Finance Minister Nirmala Sitharaman chaired the 30th Financial Stability and Development Council meeting in New Delhi on October 23. The council reviewed financial-system risks amid geopolitical uncertainty, the AI boom and rising global bond yields, according to the Finance Ministry release carried by PIB.

Discussions covered financial-sector cyber resilience, fintech innovation, possible asset tokenisation, simpler digital KYC and the development of digital financial infrastructure. These were subjects of discussion; the release does not itself announce a new tokenisation permission or a changed KYC rule for customers.

The minister also urged regulators and other stakeholders to speed up refunds of unclaimed financial assets to rightful owners. The council called for stronger coordination among regulators, while Sitharaman sought more frequent meetings on a predefined schedule.