Mumbai: Nirmala Sitharaman chairs the 29th FSDC meeting to review financial stability

Nirmala Sitaraman, the Union Minister for Finance and Corporate Affairs, chaired the 29th meeting of the Financial Stability and Development Council (FSDC) in Mumbai on Tuesday. The meeting at Mumbai was attended by various other diplomats

Nirmala Sitaraman, the Union Minister for Finance and Corporate Affairs, chaired the 29th meeting of the Financial Stability and Development Council (FSDC) in Mumbai on Tuesday.

As reported by ANI, the meeting was also attended by administrators and various other delegates. The member who joined the meeting was Union Minister of State for Finance Pankaj Chaudhary. 

A senior official of the finance ministry, RBI Governor Sanjay Malhotra, and SEBI Chairman Tuhin Kanta Pandey are also attending the meeting.

The information about the meeting in Mumbai was released through a post on the social media platform X. The Union Minister of State for Finance, Pankaj Chaudhary, posted on his official X account that the meeting was chaired by the Finance Minister, Nirmala Sitaraman.

आज माननीया केंद्रीय वित्त मंत्री श्रीमती निर्मला सीतारमण जी की अध्यक्षता में मुंबई में आयोजित 29वीं वित्तीय स्थिरता और विकास परिषद (FSDC) की बैठक में सम्मिलित हुआ।

इस दौरान उपस्थित गणमान्य व्यक्तियों में @RBI के गवर्नर; वित्त सचिव एवं आर्थिक मामलों विभाग के सचिव; वित्तीय सेवा… pic.twitter.com/jnEOHEQyNC

— Pankaj Chaudhary (@mppchaudhary) June 10, 2025

The Financial Stability and Development Council (FSDC) was established by the government in December 2010 to serve as the apex forum aimed at fortifying financial stability. Along with that, the government behind forming this council also expected it to foster inter-regulatory coordination and advance the development of the financial sector, which this council has been doing in a very significant way for the last few years.
 
However, the meeting in Mumbai provided a platform to deliberate on critical issues concerning financial stability, inter-regulatory coordination, and the development of the financial sector in India.
On the contrary, one of the main goals of the 28th FSDC conference, which was organised last year in 2024, was to guarantee macroprudential oversight of the economy, which included keeping an eye on how big financial conglomerates were operating.

With an emphasis on improving financial literacy and supporting financial inclusion initiatives nationwide, the council also discussed issues pertaining to inter-regulatory coordination and the development of the financial sector in this year’s FSDC meeting chaired by Finance Minister Nirmala Sitharaman.

The FSDC meeting in Mumbai this year has, however, made it clear that the government is dedicated to keeping the financial system strong and stable so that it not only supports economic growth but also protects everyone's interests.

As India works to become a world economic giant, groups like the FSDC are very important in making rules and policies that help people understand the complicated world of finance.

(With ANI Inputs)

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