FSDC to assess financial reforms and launch central KYC registry

The Financial Stability and Development Council (FSDC) will evaluate the impact of reforms made by financial regulators, seeking to enhance the responsiveness of the relevant rules.

Separately, a revamped central KYC registry will be rolled out this year with a system for periodic updates.

The FSDC is an inter-regulatory coordination platform formed by the government as an apex forum in December 2010. It is chaired by the Union finance minister and includes the chief economic adviser and the heads of financial sector regulators, such as the central bank, Securities and Exchange Board of India, the Insurance Regulatory and Development Authority of India, and the Pension Fund Regulatory and Development Authority .


Secretaries from the finance ministry, including those from the Department of Economic Affairs, financial services and other experts are also part of the meetings.

The FSDC also has a sub-committee chaired by the central bank governor, and it includes all FSDC members and the four deputy governors of the central bank. In the last meeting in September 2024, the FSDC sub-committee reviewed global and domestic macroeconomic and financial developments.