business π¦ Govt forming panel for big banking reforms
The Centre is expected to form a High-Level Committee on Banking for Viksit Bharat this month, signaling potential structural changes. Finance Minister Nirmala Sitharaman stated this at the Public Sector Banks Conclave in New Delhi. The committee, proposed in the February 1 Union Budget, will review the banking architecture for long-term growth. Consolidation of Indian banks and reviewing regulations like CRR are key issues on the agenda. This move aims to strengthen the sector and align it with the Viksit Bharat 2047 goal. π¦