New Delhi, Aug 17 (IANS) Conclusions from the two-day PSB Confluence 2026, organised by the Department of Financial Services (DFS) will provide substantive inputs to the proposed High‑Powered Committee on Banking for Viksit Bharat, an official statement said on Monday.
Union Finance Minister Nirmala Sitharaman highlighted youth as a critical focus area for the future of banking, the statement from the Ministry of Finance said.
The minister emphasised that the historically low level of Non-Performing Assets (NPAs) places the banking sector in a position of strength to take forward the next phase of reforms.
On Banking for Youth, the finance minister emphasised that the future of banking must reflect the aspirations of India’s youth, with 29 per cent of India’s population between 15 and 29 years of age.
The first day of the confluence brought together senior leadership of Public Sector Banks (PSBs) and Public Financial Institutions (PFIs), senior officials from the government and domain experts to deliberate on emerging opportunities and strategic priorities for the banking and financial sector.
The confluence is structured around seven themes covering key areas of opportunity for PSBs and PFIs, with the deliberations aimed at identifying practical strategies and solutions that can be taken forward and scaled across institutions.
The minister highlighted the critical importance of the seven themes identified for deliberations during the two-day Confluence in taking forward the banking sector, financial inclusion and credit.
Sanjay Lohiya Secretary, DFS, outlined the importance of translating the deliberations into concrete and implementable outcomes.
Lohiya highlighted the need for PSBs and PFIs to anticipate emerging opportunities, strengthen institutional capabilities, draw upon successful approaches across institutions and leverage their collective experience to support the next phase of economic growth.
First day of the confluence saw discussions on Deposit Mobilisation, Banking for Youth, Supporting the Investment Cycle and Global Capability Centres (GCCs).
The discussions highlighted approaches to strengthen the deposit base through deeper customer engagement, developing banking propositions responsive to the aspirations and financial needs of India’s youth, among other topics.
—IANS
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