New Delhi, Feb. 1 -- The union Budget 2026-27 has proposed establishment of a 'High-Level Committee on Banking for Viksit Bharat'.
Presenting the Budget in Parliament on Sunday, Finance Minister Nirmala Sitharaman said the Committee will comprehensively review the financial sector and align it with India's next phase of growth, while safeguarding financial stability, inclusion, and consumer protection.
The Budget noted that the Indian banking sector is now characterized by strong balance sheets, historic highs in profitability, improved asset quality, and coverage exceeding 98 per cent of villages in the country. The Budget proposes restructuring the Power Finance Corporation and Rural Electrification Corporation to achieve scale and impr...