Now Reading: Centre sets up high‑level banking committee for Viksit Bharat reforms
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Centre sets up high‑level banking committee for Viksit Bharat reforms
The Story in Brief
The finance ministry on Friday, 30 October 2026 constituted a six‑member High Level Committee on Banking for Viksit Bharat, chaired by former Central Vigilance Commissioner Suresh N Patel. Members include RBI Deputy Governor Shirish Chandra Murmu, former Indian Bank MD Padmaja Chunduru, former RBI Deputy Governor N S Vishwanathan, and the Joint Secretary (Banking) as member‑secretary. The panel has six months to submit recommendations.
Announced by Finance Minister Nirmala Sitharaman in the Union Budget for 2026‑27, the committee will review banking practices, capital needs of banks, DFIs and NBFCs, regulatory and legal frameworks, AI adoption and cyber safeguards, talent acquisition, and the Priority Sector Lending and Lead Bank schemes. It will also suggest policy options to lower the cost of capital and boost private investment. The committee can examine any other banking matter referred to it by the government.
Indian Opinion Analysis
All four outlets report the appointment identically: the six‑member committee, chaired by former CVC Suresh N Patel, with RBI Deputy Governor Shirish Chandra Murmu, ex‑Indian Bank MD Padmaja Chunduru, former RBI Deputy Governor N S Vishwanathan and the Joint Secretary (Banking) as member‑secretary. Its six‑month mandate covers banking practices, capital requirements, AI adoption and PSL review. Indian Express alone adds context: State Bank of India’s global rank (45th) and HDFC Bank’s (76th), plus recent foreign investments, framing the reform as a push for global competitiveness. The other three stick to the government’s own mandate. The Budget‑originated committee submits its report in six months.
Coverage: 4 sources, 4 neutral
Sources (4): economictimes.indiatimes.com (neutral report), indianexpress.com (neutral report), thehindubusinessline.com (neutral report), cnbctv18.com (neutral report)
This brief was synthesised by AI from the 4 sources linked above, so one read covers every framing they carry. Methodology and corrections.
