Sitharaman:Govt to soon constitute panel for 'Banking for Viksit Bharat'

Union Finance Minister Nirmala Sitharaman on Monday inaugurated the two-day (August 17-18) PSB Confluence 2026 in New Delhi, bringing together the leadership of Public Sector Banks (PSBs) and Public Financial Institutions (PFIs), in the presence of Minister of State for Finance Pankaj Chaudhary, senior officials from the Department of Financial Services, and top executives from public sector banks and financial institutions.,to deliberate on key issues shaping India's banking sector.

VIDEO | Delhi: Union Finance Minister Nirmala Sitharaman attends two-day PSB Confluence.

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Addressing the event, Sitharaman said that the government would soon constitute a high-level panel for "Banking for Viksit Bharat".The two-day conclave has been designed as an action-oriented platform to encourage collaboration among banking institutions, facilitate the exchange of best practices, and formulate practical, time-bound strategies aimed at delivering people-centric outcomes.The deliberations at the conclave are centred on several key themes, including deposit mobilisation, banking for youth, supporting the investment cycle, global capability centres, agriculture and horticulture value-chain infrastructure, re-imagining the credit card business, and priority sector lending.
According to the Ministry of Finance, these themes were selected because of their direct impact on citizen welfare and their potential to promote inclusive economic development.
The discussions are expected to focus on strengthening the resource base available for affordable credit, facilitating investments for the timely execution of infrastructure projects, developing ecosystems around global capability centres, and improving rural value-chain infrastructure to address post-harvest requirements and strengthen market linkages.The conclave will also examine ways to expand priority sector lending to underserved segments and develop banking products tailored to the needs of young customers.
The ministry said the identified themes have the potential to translate institutional and policy interventions into measurable outcomes that directly benefit citizens.Around 125 participants are attending the conclave, including chairpersons, managing directors and executive directors of public sector banks, along with representatives from public financial institutions such as NABARD, EXIM Bank, SIDBI, NHB, IIFCL, IFCI and NaBFID.Senior officials from the Indian Banks' Association and the Department of Financial Services are also participating in the discussions.The PSB Confluence is expected to serve as a platform for developing actionable initiatives that can be adopted across the banking ecosystem while strengthening coordination among financial institutions in support of India's long-term development goals.