“Banks Must Set The Tone”: Nirmala Sitharaman On India’s Viksit Bharat 2047 Vision

Finance Minister Nirmala Sitharaman says India’s banking sector must play a crucial role in achieving the vision of Viksit Bharat 2047. Speaking at PSB Confluence 2026, she said a high-powered committee on banking for Viksit Bharat is expected to be announced soon. The committee will draw on research and recommendations emerging from the two-day discussions among public sector bank and financial institution leaders. Sitharaman highlighted that Indian banks are in a position of strength, with NPAs at their lowest-ever levels, creating an opportunity to undertake further reforms. She urged banking leaders to shape the future direction of India’s financial system.