India's new banking reform panel coming soon: FM
Finance Minister Nirmala Sitharaman addressed banking leaders at the Public Sector Banks Conclave 2026, urging them to submit recommendations for reforms aligning the sector with India's development goals of Viksit Bharat 2047. The government plans to establish a high-powered committee to examine the banking sector's role in achieving these objectives.
Sitharaman highlighted that NPAs are at their lowest level ever, indicating the banking sector's strong position for further reforms. The Department of Financial Services identified seven themes for conclave discussions, including banking for youth, supporting the investment cycle, and reimagining the credit card business. The DFS had prepared detailed research documents on these themes to support the conclave's deliberations.
Sitharaman emphasized the importance of considering India's demographic profile, noting that nearly 29% of the population is aged 15-29. The conclave's recommendations will inform the proposed committee's work, aiming to align the banking architecture with India's long-term development goals.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
