'Speed up unclaimed deposit refunds': FM Nirmala Sitharaman asks RBI, Sebi to standardise KYC

FM Nirmala Sitharaman urged financial regulators to expedite the return of unclaimed assets from banks, insurers, and mutual funds. The focus is on simplifying asset recovery, especially for NRIs, PIOs, and OCIs, through coordinated efforts like district-level outreach camps. The FSDC also discussed cybersecurity enhancements and expanding financial inclusion through factoring services and account aggregators.

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