RBI Council Reviews Macroeconomic Trends, KYC Reforms & Inclusion Strategy

New Delhi, Sep 5 (KNN) The Sub-Committee of the Financial Stability and Development Council (FSDC-SC), chaired by RBI Governor Sanjay Malhotra, on Thursday reviewed global and domestic macroeconomic and financial sector developments, with a focus on issues that could affect financial stability.

According to the RBI, the panel assessed progress on inter-regulatory matters such as simplifying Know Your Customer (KYC) processes and ongoing drives to expand financial inclusion. It also discussed the draft National Strategy for Financial Inclusion (NSFI) 2025–30.

“The FSDC-SC reaffirmed its commitment to improving financial sector resilience through inter-regulatory coordination and maintaining vigilance on emerging challenges, including heightened trade uncertainty and persisting geopolitical frictions,” the central bank said in a statement.

The committee also reviewed the functioning of State-Level Coordination Committees (SLCCs) in states and Union Territories, along with the activities of various technical groups.

(KNN Bureau)