Nirmala Sitharaman Urges Enhanced Cybersecurity in Light of Global Uncertainties
Finance Minister Nirmala Sitharaman emphasized the need for enhanced cybersecurity and expedited refunds of unclaimed financial assets during the 30th meeting of the Financial Stability and Development Council in New Delhi. She urged financial regulators to streamline the refund process for unclaimed bank deposits, dividends, and other assets while simplifying Know Your Customer (KYC) procedures. The Council also discussed macroeconomic stability and the importance of innovation in the fintech sector, including the tokenization of assets. These discussions come amid rising geopolitical uncertainties, highlighting the necessity for improved cybersecurity measures across financial institutions.
The Radius summarizes this story. Read the original report from NewsOnAir.
Read Full