Following Prime Minister Narendra Modi's address from the ramparts of the Red Fort on Independence Day, Union Finance Minister Nirmala Sitharaman appeared fully active. In his speech, PM Modi had outlined a vision to strengthen India's banking sector globally and position at least one Indian bank among the top 5 banks in the world. In line with this, during 'PSB Confluence 2026' held in New Delhi, Finance Minister Nirmala Sitharaman announced that the government will soon constitute a high-level committee for a comprehensive review of the banking and financial sector. Organized by the Department of Financial Services, the main objective of this conference is to tailor the Indian banking system to the 'Viksit Bharat 2047' goal and draft new strategies based on emerging economic needs. Once the committee finalizes its recommendations, the government is prepared to implement crucial decisions swiftly to boost economic momentum.
