Govt to soon announce high-level committee on banking: FM Nirmala Sitharaman

The government will soon announce a high-level committee on banking, said Finance Minister Nirmala Sitharaman on the first day of the PSB Confluence 2026 in New Delhi.

The minister said there cannot be a better time to talk about banking, she said, referring to the sector’s improved asset quality as justification. "There couldn't have been a better time to talk about banking for Viksit Bharat, especially for the journey that all of you have gone through, come out of it without the recognition of difficulties and coming out towards the root of reform," she said.

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Once the committee forms its recommendations and views, the government will be ready to press the button to rev up the Indian economy, she said, referring to the vision of Viksit Bharat 2047.

The committee is expected to deliberate on deposit mobilisation, banking for youth, investment cycle, agriculture infrastructure, priority sector lending, global capacity centres (GCC), and reimagining credit card business. These themes were zeroed in on by the Finance Minister said the Department of Financial Services (DFS).

"I must credit the Department of Financial Services for having worked on the seven different topics that shall be important to take the banking and financial sector forward," Sitharaman said.

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The committee was first proposed in the Union Budget 2026-27. Sitharaman announced plans for a high-level committee on banking to review the sector and align it with India’s growth plan.