Nirmala Sitharaman Urges PSBs To Launch ‘Banking For Youth’ Campaign From October 2

Finance Minister Nirmala Sitharaman called upon public sector banks (PSBs) to launch a 'Banking for Youth' campaign starting October 2, targeting young Indians aged 16 and above to bring them into the formal financial system. Speaking at the PSB Confluence 2026, she emphasized the importance of engaging with colleges, universities, and skill-development centres to bring banking services directly to young people.

Sitharaman stressed the growing influence of young consumers on India's financial and economic landscape, with 66% of UPI transactions conducted by individuals aged 18-29. To appeal to digitally comfortable customers, banks should develop relationships with customers from an early age, supporting them through education, employment, entrepreneurship, investment, and wealth creation.

To make banking services more accessible, PSBs are encouraged to establish a presence at campuses and skill-building institutions, creating 'Yuva Kiosks' or 'Yuva Banking Mitra' to assist young customers with account services, credit products, credit scores, and government schemes. A dedicated website and mobile-friendly portal could provide simple information on KYC requirements, safe banking practices, finance, entrepreneurship, and connect users with nearby PSB branches and services like Basic Savings Bank Deposit Accounts.

Interactive tools such as quizzes, graphics, and certificates could be used to make financial education more engaging for young users. Sitharaman emphasized that the 'Banking for Youth' campaign aims to make PSBs the "first and most trusted choice" for young Indians as they progress through their financial lives.