Government to soon announce high-level panel on ‘Banking for Viksit Bharat’

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Union Finance Minister Nirmala Sitharaman and others during the inaugural session of the two-day 'PSB Confluence' (PSB Manthan) ideation conclave organized by the Department of Financial Services (DFS), in New Delhi | Photo Credit: PTI

Finance Minister Nirmala Sitharaman on Monday (August 17, 2026) said the government would soon constitute a high-level panel on 'Banking for Viksit Bharat'.

In this year's Budget, the Finance Minister had proposed a high-level committee on 'Banking for Viksit Bharat', to comprehensively review the sector and align it with India's next phase of growth.

Addressing the two-day PSB Confluence, Ms. Sitharaman said, "We expect the announcement of the high-powered committee to look into the banking sector. Soon the committee will be announced." She said the committee would give its thoughts and recommendations to the government.

"I propose setting up a 'High Level Committee on Banking for Viksit Bharat' to comprehensively review the sector and align it with India's next phase of growth, while safeguarding financial stability, inclusion and consumer protection," she had said in the Budget speech on February 1, 2026.

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