Nirmala Sitharaman urges faster return of unclaimed deposits, shares, funds
Finance Minister Nirmala Sitharaman wants regulators and other stakeholders to return unclaimed deposits, shares, and funds to people much faster.
She brought this up at the Financial Stability and Development Council (FSDC) meeting on October 23, 2026.
The group also talked about making KYC (know-your-customer) steps easier and tightening up cybersecurity because of global uncertainties.
FSDC developing cybersecurity strategy
The FSDC is working on a new cybersecurity strategy to keep financial data safer, especially with more AI and cloud technology in play.
They're also looking for ways to attract more investment (like in Gujarat International Finance Tec-City) and make digital services smoother while cutting down extra costs.
Sitharaman urged the Council to hold FSDC meetings more frequently according to a predefined schedule.