2024-02-22 00:08:00
Union Finance Minister Nirmala Sitharaman has asked the financial watchdogs to take additional measures to prevent unauthorized lending activities.
The 28th meeting of the Financial Stability and Growth Council was held in Delhi on Wednesday. The Minister of Finance who participated said:
There should not be any problems in the current economic environment both internationally and in India. Any event affecting the financial stability of the country should be prevented earlier. Financial watchdogs should be active in this matter. He said that additional measures should be taken to prevent unauthorized loan applications.
Reserve Bank of India (RBI) Governor Shaktikanta Das, SEBI, IRDA, IPBI, Pension Fund Regulatory Authority, Center for International Financial Services, Ministry of Finance, Department of Economic Affairs and others participated in the meeting.
In this, the country’s financial activities were discussed, advice on solving practical problems, technology development etc. Importantly, the proposal was made to make the Customer Profile (KYC) form uniform for all organizations including banks and insurance companies. Through this it will be convenient for companies to exchange it among themselves. It was also discussed about improving the economic development of the country by working together with all the financial institutions.
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