High-level panel on banking for Viksit Bharat to be announced soon

Finance minister Nirmala Sitharaman said on Monday the government will soon announce a high-level committee on banking reforms for Viksit Bharat. The statement came on the first day of a two-day Public Sector Bank Confluence 2026, organised by the Department of Financial Services. Sitharaman said the recommendations from the confluence will provide substantive inputs to the proposed panel.

The confluence covers seven themes: deposit mobilisation, banking for youth, supporting the investment cycle, enabling Global Capability Centres, strengthening agriculture and horticulture value chain infrastructure, reimagining the credit card business, and priority sector lending. Sitharaman noted that historically low non-performing assets put the banking sector in a position of strength for the next phase of reforms. The high-level committee was first announced in her February 1 Budget speech.

The finance minister will return on the second day to hear a consolidated brief from banking leaders. The remaining themes will be taken up on day two, with presentations on actionable strategies.