Government Plans High-Level Committee and Conclave to Strengthen Indian Banking Sector

The Indian government plans to convene a high-level committee and a state-run banks conclave to develop a strategic roadmap for strengthening the banking sector by 2047. Key focuses include enhancing scale through mergers, improving governance, addressing liquidity and credit-deposit imbalances, and adopting customer-centric initiatives. Discussions also cover revisiting bank licensing norms and operational reforms to build globally competitive lenders and support sustainable credit growth amid evolving economic challenges.