During Sebi's 38th foundation day event, Finance Minister Nirmala Sitharaman emphasized the need for the Securities and Exchange Board of India (Sebi) to lead the simplification of know-your-customer (KYC) processes across the financial system. She called for a secure and portable KYC architecture, highlighting that citizens should not have to undergo repeated verification across platforms. Sitharaman urged a shift in regulatory focus from reactive to anticipatory, particularly concerning emerging risks such as artificial intelligence-driven market abuse and cybersecurity threats. She warned that a significant cyberattack could have systemic consequences for the market. Furthermore, she advocated for structural reforms to deepen India's corporate bond market, encouraging Sebi to enhance retail participation and improve liquidity. The minister also stressed the importance of investor protection evolving from a defensive role to a developmental one, calling for stronger enforcement against misconduct and improved investor awareness campaigns. Overall, she framed capital markets as vital to India's long-term growth, emphasizing the need for well-regulated markets to support infrastructure and innovation.