High Level Committee on Banking for Viksit Bharat
Eduteria Insights · 6 Nov 2026
Why in News?
The Government of India has constituted a High-Level Committee on Banking for Viksit Bharat to review India's banking sector and recommend reforms to make it globally competitive, financially inclusive, and resilient, in line with the vision of Viksit Bharat @2047.
The committee was announced by Union Finance Minister Nirmala Sitharaman in the Union Budget 2026-27.
Major Terms of Reference (Objectives)
The committee will focus on the following areas:
Banking Reforms: Review existing banking practices and prudential norms and adopt suitable global best practices.
Regulatory Reforms: Examine laws and regulations governing commercial, regional rural, and cooperative banks.
Capital Requirements: Assess the long-term funding needs of banks, Development Financial Institutions (DFIs), and NBFCs.
Investment Promotion: Examine the cost of capital for businesses and suggest measures to encourage private investment.
AI and Digital Banking: Develop a roadmap for AI and digital innovation, with safeguards against cyber risks and measures for skill development.
Financial Inclusion: Review the Priority Sector Lending (PSL) framework and Lead Bank Scheme to improve inclusive and balanced credit delivery.
Significance
The committee aims to build a strong, efficient, technology-driven, and globally competitive banking system capable of supporting India's long-term economic growth and achieving the vision of Viksit Bharat @2047.
- Banking Committee 2026
- Banking Reforms in India
- Suresh N Patel Committee
- Viksit Bharat 2047
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