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Finance Minister Nirmala Sitharaman has called for major reforms in India’s capital markets, including a simplified KYC system and stronger cybersecurity safeguards, as rapid market growth raises new risks. Speaking at the 38th foundation day of Securities and Exchange Board of India (SEBI) in Mumbai on April 25, she outlined a roadmap to ease investor onboarding, deepen bond markets and strengthen regulatory preparedness, even as 366 IPOs raised about Rs 1.9 lakh crore in FY 2025-26.
<h2 data-end="851" data-section-id="wo9pkw" data-start="811">KYC simplification takes centre stage</h2>
The Finance Minister made a strong case for overhauling the know-your-customer (KYC) framework, calling for a unified, portable system that works seamlessly across financial platforms.
She urged SEBI to take the lead in standardising KYC norms in coordination with the Financial Stability and Development Council (FSDC) and other regulators. The goal, she said, is simple: eliminate repetitive verification processes that frustrate users and slow financial inclusion.
“No citizen should have to repeat the same verification journey across multiple platforms,” Sitharaman said, underlining the urgency of implementation.
A streamlined KYC architecture is expected to reduce friction for retail investors and improve ease of doing business across banking, securities and insurance sectors.
<blockquote>In many ways, SEBI is already moving in this direction, and that is appreciable. Its use of consultation papers, seeking public comments, engaging with committees and market participants, and refining proposals based on stakeholder feedback reflects regulatory maturity.
I urge… <a href="https://t.co/EQaaATH0H9">https://t.co/EQaaATH0H9</a>
— Nirmala Sitharaman Office (@nsitharamanoffc) <a href="https://twitter.com/nsitharamanoffc/status/2047951028604317773?ref_src=twsrc%5Etfw">April 25, 2026</a></blockquote>
<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><h2 data-end="1696" data-section-id="zkpy21" data-start="1650">Why anticipatory regulation is now critical?</h2>
Sitharaman signalled a shift in regulatory philosophy - from reacting to crises to predicting and preventing them.
She highlighted emerging risks such as artificial intelligence-led market abuse, cross-border fraud and increasingly sophisticated financial scams. According to her, regulation must evolve in step with technology, relying more on principles-based frameworks and structured consultations rather than rigid rules.
“Indian regulation need not imitate global models, but it must remain in sustained dialogue with them,” she said, emphasising the importance of global coordination.
<h2 data-end="2353" data-section-id="oe7reb" data-start="2296">Cybersecurity threat: ‘One attack can disrupt markets’</h2>
Cybersecurity emerged as one of the most urgent concerns in her address.
The Finance Minister warned that a single successful cyberattack on a major exchange or depository could disrupt economic activity nationwide and erode public confidence in financial systems.
With artificial intelligence enabling faster, automated and more adaptive attacks, she stressed that defence systems must evolve even faster. While acknowledging SEBI’s Cybersecurity and Cyber Resilience Framework introduced in April 2025, she called for continuous upgrades.
She also highlighted the need to expand tools like “SEBI Check” and boost public awareness - especially in regional languages - to counter fraud, fake intermediaries and payment scams.
<h2 data-end="3132" data-section-id="bpqmos" data-start="3086">Rs 1.9 lakh crore IPO boom: What it signals?</h2>
India’s primary markets have seen record-breaking momentum, with 366 IPOs raising about Rs 1.9 lakh crore in FY 2025-26.
Sitharaman said this surge reflects strong capital formation and growing investor participation. However, she cautioned that rapid expansion brings new risks.
“Participation without understanding can create vulnerability. Access without safeguards can create risk,” she said.
India’s market infrastructure has also evolved significantly, with NSDL and CDSL together holding over $5 trillion in dematerialised securities - placing the country among the most advanced market ecosystems globally.
<h2 data-end="3801" data-section-id="18zwbal" data-start="3756">Corporate bond market needs deeper reforms</h2>
Despite strong equity markets, Sitharaman flagged gaps in India’s corporate bond market and called for structural reforms.
She urged SEBI to:
<ul data-end="4097" data-start="3946">
<li data-end="3984" data-section-id="1rjau04" data-start="3946">Improve secondary market liquidity</li>
<li data-end="4020" data-section-id="qp38ie" data-start="3985">Standardise issuance frameworks</li>
<li data-end="4052" data-section-id="154ocy8" data-start="4021">Expand retail participation</li>
<li data-end="4097" data-section-id="qleior" data-start="4053">Strengthen credit enhancement mechanisms</li>
</ul>
The aim is to enable lower-rated but viable firms to access funding, reducing over-reliance on bank lending.
She also pushed for a renewed focus on municipal bonds, noting that India’s urban infrastructure ambitions cannot be financed through public funds alone.
<h2 data-end="4419" data-section-id="181ab57" data-start="4369">Investor protection must evolve with the market</h2>
With retail participation rising sharply, Sitharaman said investor protection must move beyond a defensive role to become developmental.
She warned against risks from uninformed investing and unregulated financial advice, particularly on social media platforms. Stronger enforcement, faster grievance redressal and wider financial literacy campaigns are now essential.
She also called for the use of advanced analytics and machine learning to strengthen market surveillance and detect fraud in real time. Sitharaman emphasised that India’s regulatory framework must remain globally aligned while retaining domestic priorities.
She called for regular engagement with international regulators and market participants on areas such as:
<ul data-end="5318" data-start="5212">
<li data-end="5235" data-section-id="cudjfx" data-start="5212">Sustainable finance</li>
<li data-end="5263" data-section-id="a7ch3t" data-start="5236">AI in financial markets</li>
<li data-end="5286" data-section-id="1pwaar7" data-start="5264">Cross-border fraud</li>
<li data-end="5318" data-section-id="j07u23" data-start="5287">Settlement interoperability</li>
</ul>
Such coordination, she said, would boost global investor confidence and enhance India’s influence in shaping international financial rules.
Read More: <a href="https://www.zeebiz.com/economy-infra/news-big-relief-for-paint-industry-govt-slashes-duty-to-zero-amid-iran-tensions-394143">Big relief for paint industry: Govt slashes duty to zero amid Iran tensions</a>

Finance Minister Nirmala Sitharaman has called for major reforms in India’s capital markets, including a simplified KYC system and stronger cybersecurity safeguards, as rapid market growth raises new risks. Speaking at the 38th foundation day of Securities and Exchange Board of India (SEBI) in Mumbai on April 25, she outlined a roadmap to ease investor onboarding, deepen bond markets and strengthen regulatory preparedness, even as 366 IPOs raised about Rs 1.9 lakh crore in FY 2025-26.KYC simplification takes centre stageThe Finance Minister made a strong case for overhauling the know-your-customer (KYC) framework, calling for a unified, portable system that works seamlessly across financial platforms.She urged SEBI to take the lead in standardising KYC norms in coordination with the Financial Stability and Development Council (FSDC) and other regulators. The goal, she said, is simple: eliminate repetitive verification processes that frustrate users and slow financial inclusion.“No citizen should have to repeat the same verification journey across multiple platforms,” Sitharaman said, underlining the urgency of implementation.A streamlined KYC architecture is expected to reduce friction for retail investors and improve ease of doing business across banking, securities and insurance sectors.In many ways, SEBI is already moving in this direction, and that is appreciable. Its use of consultation papers, seeking public comments, engaging with committees and market participants, and refining proposals based on stakeholder feedback reflects regulatory maturity.I urge… https://t.co/EQaaATH0H9— Nirmala Sitharaman Office (@nsitharamanoffc) April 25, 2026Why anticipatory regulation is now critical?Sitharaman signalled a shift in regulatory philosophy - from reacting to crises to predicting and preventing them.She highlighted emerging risks such as artificial intelligence-led market abuse, cross-border fraud and increasingly sophisticated financial scams. According to her, regulation must evolve in step with technology, relying more on principles-based frameworks and structured consultations rather than rigid rules.“Indian regulation need not imitate global models, but it must remain in sustained dialogue with them,” she said, emphasising the importance of global coordination.Cybersecurity threat: ‘One attack can disrupt markets’Cybersecurity emerged as one of the most urgent concerns in her address.The Finance Minister warned that a single successful cyberattack on a major exchange or depository could disrupt economic activity nationwide and erode public confidence in financial systems.With artificial intelligence enabling faster, automated and more adaptive attacks, she stressed that defence systems must evolve even faster. While acknowledging SEBI’s Cybersecurity and Cyber Resilience Framework introduced in April 2025, she called for continuous upgrades.She also highlighted the need to expand tools like “SEBI Check” and boost public awareness - especially in regional languages - to counter fraud, fake intermediaries and payment scams.Rs 1.9 lakh crore IPO boom: What it signals?India’s primary markets have seen record-breaking momentum, with 366 IPOs raising about Rs 1.9 lakh crore in FY 2025-26.Sitharaman said this surge reflects strong capital formation and growing investor participation. However, she cautioned that rapid expansion brings new risks.“Participation without understanding can create vulnerability. Access without safeguards can create risk,” she said.India’s market infrastructure has also evolved significantly, with NSDL and CDSL together holding over $5 trillion in dematerialised securities - placing the country among the most advanced market ecosystems globally.Corporate bond market needs deeper reformsDespite strong equity markets, Sitharaman flagged gaps in India’s corporate bond market and called for structural reforms.She urged SEBI to:Improve secondary market liquidityStandardise issuance frameworksExpand retail participationStrengthen credit enhancement mechanismsThe aim is to enable lower-rated but viable firms to access funding, reducing over-reliance on bank lending.She also pushed for a renewed focus on municipal bonds, noting that India’s urban infrastructure ambitions cannot be financed through public funds alone.Investor protection must evolve with the marketWith retail participation rising sharply, Sitharaman said investor protection must move beyond a defensive role to become developmental.She warned against risks from uninformed investing and unregulated financial advice, particularly on social media platforms. Stronger enforcement, faster grievance redressal and wider financial literacy campaigns are now essential.She also called for the use of advanced analytics and machine learning to strengthen market surveillance and detect fraud in real time. Sitharaman emphasised that India’s regulatory framework must remain globally aligned while retaining domestic priorities.She called for regular engagement with international regulators and market participants on areas such as:Sustainable financeAI in financial marketsCross-border fraudSettlement interoperabilitySuch coordination, she said, would boost global investor confidence and enhance India’s influence in shaping international financial rules.Read More: Big relief for paint industry: Govt slashes duty to zero amid Iran tensions

Finance Minister Nirmala Sitharaman has asked Securities and Exchange Board of India (SEBI) to simplify KYC rules and build a seamless, reusable verification system across financial platforms. She also flagged rising cyber risks and called for stronger safeguards as India’s capital markets expand rapidly.

Big KYC change ahead? FM Sitharaman asks SEBI to simplify rules

news-big-kyc-change-ahead-fm-sitharaman-asks-sebi-to-simplify-rules-394285

Finance Minister Nirmala Sitharaman has called for major reforms in India’s capital markets, including a simplified KYC system and stronger cybersecurity safeguards, as rapid market growth raises new risks. Speaking at the 38th foundation day of Securities and Exchange Board of India (SEBI) in Mumbai on April 25, she outlined a roadmap to ease investor onboarding, deepen bond markets and strengthen regulatory preparedness, even as 366 IPOs raised about Rs 1.9 lakh crore in FY 2025-26. KYC simplification takes centre stage The Finance Minister made a strong case for overhauling the know-your-customer (KYC) framework, calling for a unified, portable system that works seamlessly across financial platforms. She urged SEBI to take the lead in standardising KYC norms in coordination with the Financial Stability and Development Council (FSDC) and other regulators. The goal, she said, is simple: eliminate repetitive verification processes that frustrate users and slow financial inclusion. “No citizen should have to repeat the same verification journey across multiple platforms,” Sitharaman said, underlining the urgency of implementation. A streamlined KYC architecture is expected to reduce friction for retail investors and improve ease of doing business across banking, securities and insurance sectors. In many ways, SEBI is already moving in this direction, and that is appreciable. Its use of consultation papers, seeking public comments, engaging with committees and market participants, and refining proposals based on stakeholder feedback reflects regulatory maturity. I urge… https://t.co/EQaaATH0H9 — Nirmala Sitharaman Office (@nsitharamanoffc) April 25, 2026 Why anticipatory regulation is now critical? Sitharaman signalled a shift in regulatory philosophy - from reacting to crises to predicting and preventing them. She highlighted emerging risks such as artificial intelligence-led market abuse, cross-border fraud and increasingly sophisticated financial scams. According to her, regulation must evolve in step with technology, relying more on principles-based frameworks and structured consultations rather than rigid rules. “Indian regulation need not imitate global models, but it must remain in sustained dialogue with them,” she said, emphasising the importance of global coordination. Cybersecurity threat: ‘One attack can disrupt markets’ Cybersecurity emerged as one of the most urgent concerns in her address. The Finance Minister warned that a single successful cyberattack on a major exchange or depository could disrupt economic activity nationwide and erode public confidence in financial systems. With artificial intelligence enabling faster, automated and more adaptive attacks, she stressed that defence systems must evolve even faster. While acknowledging SEBI’s Cybersecurity and Cyber Resilience Framework introduced in April 2025, she called for continuous upgrades. She also highlighted the need to expand tools like “SEBI Check” and boost public awareness - especially in regional languages - to counter fraud, fake intermediaries and payment scams. Rs 1.9 lakh crore IPO boom: What it signals? India’s primary markets have seen record-breaking momentum, with 366 IPOs raising about Rs 1.9 lakh crore in FY 2025-26. Sitharaman said this surge reflects strong capital formation and growing investor participation. However, she cautioned that rapid expansion brings new risks. “Participation without understanding can create vulnerability. Access without safeguards can create risk,” she said. India’s market infrastructure has also evolved significantly, with NSDL and CDSL together holding over $5 trillion in dematerialised securities - placing the country among the most advanced market ecosystems globally. Corporate bond market needs deeper reforms Despite strong equity markets, Sitharaman flagged gaps in India’s corporate bond market and called for structural reforms. She urged SEBI to: Improve secondary market liquidity Standardise issuance frameworks Expand retail participation Strengthen credit enhancement mechanisms The aim is to enable lower-rated but viable firms to access funding, reducing over-reliance on bank lending. She also pushed for a renewed focus on municipal bonds, noting that India’s urban infrastructure ambitions cannot be financed through public funds alone. Investor protection must evolve with the market With retail participation rising sharply, Sitharaman said investor protection must move beyond a defensive role to become developmental. She warned against risks from uninformed investing and unregulated financial advice, particularly on social media platforms. Stronger enforcement, faster grievance redressal and wider financial literacy campaigns are now essential. She also called for the use of advanced analytics and machine learning to strengthen market surveillance and detect fraud in real time. Sitharaman emphasised that India’s regulatory framework must remain globally aligned while retaining domestic priorities. She called for regular engagement with international regulators and market participants on areas such as: Sustainable finance AI in financial markets Cross-border fraud Settlement interoperability Such coordination, she said, would boost global investor confidence and enhance India’s influence in shaping international financial rules. Read More: Big relief for paint industry: Govt slashes duty to zero amid Iran tensions

Finance Minister Nirmala Sitharaman has asked Securities and Exchange Board of India (SEBI) to simplify KYC rules and build a seamless, reusable verification system across financial platforms. She also flagged rising cyber risks and called for stronger safeguards as India’s capital markets expand 