Nirmala Sitharaman unveils high-level committee on Banking for Viksit Bharat
India's finance minister, Nirmala Sitharaman, just announced that a high-level committee is coming soon to revamp the country's banking sector.
Revealed at the PSB Confluence 2026 event, this move is part of India's bigger goal to become a developed nation by 2047.
The committee, called the High-Level Committee on Banking for Viksit Bharat, will look at how banks can better support economic growth and make it easier for people and businesses to get loans.
Sitharaman says panel likely to be formed in August 2026
The panel is likely to be formed in August 2026, with Sitharaman pointing out that Indian banks are in their best shape yet, thanks to record-low bad loans.
The government says it'll act fast on any recommendations, hoping these changes will help power India's growth over the next few decades.