Banking reforms high-level panel to be set up this month: FM

Finance Minister Nirmala Sitharaman said the government will announce members of the high-level committee on banking reforms soon, with a senior ministry official adding the panel is likely to be formed this month.

Speaking at the PSB Confluence 2026 in New Delhi, Sitharaman said public sector banks will be expected to pivot strategies based on the committee's recommendations once its report is published, as per NDTV Profit. The committee was first announced in the Union Budget 2026-27 under the name High-Level Committee on Banking for Viksit Bharat.

Sitharaman noted that non-performing assets are at their lowest levels, giving banks a stronger base for reforms. The panel will examine how the banking sector can support India's goal of becoming a developed nation by 2047. The government plans to act quickly on the committee's recommendations after submission.