During Sebi's 38th foundation day event, Finance Minister Nirmala Sitharaman emphasized the need for a unified know your customer (KYC) process to simplify investor onboarding in India. She called on the Securities and Exchange Board of India (Sebi) to spearhead this initiative, highlighting the importance of a seamless, secure, and affordable KYC experience across the financial sector. Sitharaman noted that the current onboarding process is hindered by duplication and friction, particularly as retail participation in capital markets increases.

Additionally, she stressed the necessity for stronger enforcement against market misconduct, asserting that consistent action is vital for maintaining market credibility. She also raised concerns about the exploitation of retail investor trust and called for frameworks that promote responsible financial education. On a global scale, Sitharaman urged Sebi to engage more frequently with international regulators to address emerging risks, including cross-border fraud and the implications of artificial intelligence in markets. She advocated for public awareness campaigns in regional languages to combat fraudulent activities targeting investors.