Nirmala Sitharaman to chair FSDC meeting in Mumbai on June 10

Union Finance Minister Nirmala Sitharaman will chair a meeting of the Financial Stability and Development Council (FSDC) in Mumbai on June 10, reports said.

The meeting will be conducted to review current domestic and global economic scenarios and regulatory and supervisory issues.

Advertisement

The 29th meeting of the FSDC-also comprising heads of financial sector regulators and top finance ministry officials-comes at a time when external headwinds, especially uncertainties around the US tariff policy and geopolitical conflicts, continue to pose risks to global as well as Indian growth.

The FSDC meeting is expected to be attended by Reserve Bank of India governor Sanjay Malhotra and SEBI chairman Tuhin Kanta Pandey, among other regulatory heads.

According to reports, top finance ministry officials, including finance secretary Ajay Seth, expenditure secretary Vumlunmang Vualnam, revenue secretary Arvind Shrivastava and financial services secretary M Nagaraju, will also take part in it.

In a separate development, Sitharaman also said several groundbreaking financial inclusion schemes by the Narendra Modi-led government have revolutionized welfare delivery in India in the last 11 years, by plugging leakages and ensuring transparency.

“Direct Benefit Transfer (DBT) has revolutionised welfare delivery in India, by plugging leakages and ensuring transparency. Over 1,200 government schemes now leverage DBT, enabling direct transfer of Rs 44 lakh crore to beneficiaries’ bank accounts,” FM Sitharaman said in a post on X.

The Finance Minister said this system has already saved the nation Rs 3.48 lakh crore in leakages and inefficiencies. Also, PM MUDRA Yojana has given wings to grassroots dreams and made entrepreneurship inclusive.

“Under this scheme, over 52 crore loans worth Rs 33 lakh crore have been sanctioned, out of which 68 per cent belong to women,” she added.