Key Highlight
- Finance Minister Nirmala Sitharaman to chair FSDC meeting on June 10, addressing economic challenges.
- FSDC meeting to focus on financial stability, regulatory issues, and global economic uncertainties.
Union Finance Minister Nirmala Sitharaman is reportedly scheduled to preside over a Financial Stability and Development Council (FSDC) meeting in Mumbai on June 10.
Current domestic and international economic conditions, along with regulatory and supervisory concerns, will be the main topics of discussion at the meeting.
At a time when external headwinds, particularly uncertainties surrounding US tariff policy and geopolitical conflicts, continue to pose risks to global and Indian growth, the 29th meeting of the FSDC, which also includes top finance ministry officials and the heads of financial sector regulators, is taking place.
Among other regulatory officials, SEBI Chairman Tuhin Kanta Pandey and Reserve Bank of India Governor Sanjay Malhotra are anticipated to attend the FSDC meeting.
According to reports, top finance ministry officials such as finance secretary Ajay Seth, expenditure secretary Vumlunmang Vualnam, revenue secretary Arvind Shrivastava, and financial services secretary M Nagaraju will also participate.
Also Read: FM Sitharaman Highlights Fintech Policy Support During Visit to Pine Labs Facility
In a separate development, Sitharaman stated that the Narendra Modi government's groundbreaking financial inclusion schemes have revolutionized welfare delivery in India over the last 11 years by plugging leaks and ensuring transparency.
"Direct Benefit Transfer (DBT) has transformed welfare delivery in India by eliminating leaks and increasing transparency. Over 1,200 government schemes now use DBT, allowing for direct transfers of Rs 44 lakh crore to beneficiaries' bank accounts," FM Sitharaman stated in a post on X.
The Finance Minister stated that this system has already saved the country Rs 3.48 lakh crore in leakages and inefficiencies. Additionally, the PM MUDRA Yojana has given wings to grassroots dreams and made entrepreneurship accessible.
"Under this scheme, over 52 crore loans worth Rs 33 lakh crore have been sanctioned, out of which 68 percent belong to women," according to her.
