A meeting of the Sub-Committee of the Financial Stability and Development Council (FSDC-SC) was held today at the Reserve Bank of India, Mumbai. Shri Sanjay Malhotra, Governor, Reserve Bank of India, chaired the meeting. The Sub-Committee discussed major global and domestic macroeconomic and financial sector developments and various issues that may have financial stability implications. The Sub-Committee reviewed the progress in several inter-regulatory matters including simplification of KYC processes and special drives for financial inclusion. It also deliberated upon the National Strategy for Financial Inclusion (NSFI) 2025–30. The Sub-Committee also reviewed the functioning of State-Level Coordination Committees (SLCCs) in States and Union Territories and activities of various technical groups.