FSDC 30th meeting: Sitharaman pushes for faster return of unclaimed bank deposits, shares and insurance money
Union Finance Minister Nirmala Sitharaman chaired the 30th meeting of the Financial Stability and Development Council (FSDC) in New Delhi on 23 October 2026. The meeting discussed returning unclaimed financial assets to their rightful owners and strengthening cyber security in the financial sector.
What this means for you
For ordinary people, the main takeaway is that the government and regulators agreed to speed up returning unclaimed money lying in bank deposits, dividends, shares, post office accounts, insurance and pension funds to its rightful owners. If money belonging to you or your family is stuck in an old account, share or policy, this news is relevant to you. The meeting did not announce any new scheme, deadline or application process, so nobody needs to do anything right now.
Key facts
- The meeting was held in New Delhi on 23 October 2026 and was the 30th FSDC meeting.
- Risks discussed included geopolitical uncertainty, growing use of AI and a sharp rise in global bond yields.
- The council reviewed the Financial Sector Cyber Security Strategy (FSCSS), prepared with coordination from DEA, DFS and MeitY.
- Simplification and digitalisation of KYC for NRIs and FPIs was discussed.
- Reforms to promote Digital Public Infrastructure with special focus on MSMEs, including Account Aggregator and UPI frameworks, were discussed.
- The Finance Minister asked regulators to speed up return of unclaimed assets and urged more regular FSDC meetings.
What happened at the meeting
Union Finance and Corporate Affairs Minister Nirmala Sitharaman chaired the 30th meeting of the Financial Stability and Development Council (FSDC) in New Delhi on 23 October 2026. Members of the council were present. The council discussed issues related to the country’s overall financial stability and India’s preparedness to deal with them.
Which risks were discussed
According to the release, the council noted emerging trends in the domestic and global financial situation. These included geopolitical uncertainty, the growing use of Artificial Intelligence and a sharp rise in global bond yields. The council stressed the need for vigilance and for adopting safeguards in advance to reduce possible risks to financial stability. Members decided to strengthen coordination among regulators for the wider development of the financial sector.
Focus on cyber security
The council reviewed the cyber security capacity of India’s financial sector. It focused on the Financial Sector Cyber Security Strategy (FSCSS), prepared by an inter-ministerial group of financial regulators and cyber security agencies with coordination from DEA, DFS and MeitY. The meeting also looked at India’s preparedness to protect critical information infrastructure and at improving the cyber security readiness of Regional Rural Banks (RRBs).
Push on unclaimed money
The Finance Minister asked regulators and stakeholders to speed up the process of returning unclaimed assets to their rightful owners. These assets include bank deposits, dividends, shares, post office accounts, insurance and pension funds. The council appreciated the progress made under the “Aapka Paisa, Aapka Adhikar” campaign at the district level and directed ministries and regulators to make extra efforts so that money reaches the rightful owners on time.
Other issues discussed
The council discussed ways to implement earlier decisions and Budget announcements. These included strengthening the domestic investment ecosystem and improving the flow of resources for investment, including GIFT-IFSC; simplifying and digitalising KYC and digital onboarding for NRIs and FPIs; reforms to promote Digital Public Infrastructure with special focus on MSMEs, including Account Aggregator and UPI frameworks; and reducing intermediation costs, improving accountability of regulations and rationalising credit guarantee schemes in India.
What next
Citing growing geopolitical tensions and global uncertainty, Sitharaman urged the council to hold FSDC meetings at regular intervals as per the schedule. The meeting was attended by RBI Governor Sanjay Malhotra, secretaries of the Finance Ministry, heads of SEBI, IRDAI, IFSCA, PFRDA and IBBI, the CERT-In Director General and the FSDC Secretary.
Questions and answers
When and where was the 30th FSDC meeting held?
It was held in New Delhi on 23 October 2026. The meeting was chaired by Union Finance and Corporate Affairs Minister Nirmala Sitharaman.
What should I do to get back my unclaimed money?
The meeting did not announce any new application process or deadline for the public. It only asked regulators and ministries to speed up the return of money to rightful owners.
What is the "Aapka Paisa, Aapka Adhikar" campaign?
It is a campaign run at the district level under which unclaimed financial assets are returned to their rightful owners. The council appreciated the progress made under it.
Did this meeting change bank deposit or interest rates?
No. The release does not mention any change in interest rates or deposit rules.
What is FSDC?
It is the Financial Stability and Development Council, chaired by the Union Finance Minister. It includes the RBI Governor and heads of financial sector regulators as members.
Source: PIB, "केंद्रीय वित्त एवं कॉरपोरेट कार्य मंत्री श्रीमती निर्मला सीतारमण ने आज नई दिल्ली में वित्तीय स्थिरता एवं विकास परिषद (एफएसडीसी) की 30वीं बैठक की अध्यक्षता की", 23 October 2026. Read the original notice
Checked against the official notice: 24 October 2026. This story was drafted with AI from an official notice and checked by an editor before publishing. Report an error