The Department of Financial Services (DFS), Ministry of Finance, organized the two-day PSB Confluence 2026, bringing together senior leadership of Public Sector Banks (PSBs) and Public Financial Institutions (PFIs), government officials, and domain experts to deliberate on emerging opportunities and strategic priorities for the banking and financial sector. The conference is structured around seven themes covering key areas of opportunity for PSBs and PFIs, with deliberations aimed at identifying practical strategies and solutions that can be scaled across institutions.
Union Finance Minister Smt. Nirmala Sitharaman addressed the Confluence, highlighting the critical importance of the seven themes in advancing the banking sector, financial inclusion, and credit. She emphasized that the historically low level of Non-Performing Assets (NPAs) places the banking sector in a position of strength to undertake the next phase of reforms. The Finance Minister announced that a High-powered Committee on Banking Reforms for Viksit Bharat will be announced soon, with conclusions from the PSB Confluence providing substantive inputs to this committee.
On the theme of Banking for Youth, the Finance Minister emphasized that the future of banking must reflect the aspirations of India's youth, noting that 29% of India's population is between 15 and 29 years of age. The potential of leveraging Mera Yuva Bharat (MY Bharat), a national platform of the Department of Youth Affairs with over 2.60 crore registered users and an extensive outreach network, was explored for wider youth engagement. Dr. Priyanka Shukla, CEO of MY Bharat, participated as an expert speaker and shared perspectives on youth outreach and enhancing youth connect with the formal financial system.
Day 1 of the Confluence focused on four of the seven themes: Deposit Mobilisation, Banking for Youth, Supporting the Investment Cycle, and Global Capability Centres (GCCs). Discussions highlighted approaches to strengthen the deposit base through deeper customer engagement, develop banking propositions responsive to youth aspirations and financial needs, enhance institutional capabilities and financing solutions to support the evolving investment cycle, and position PSBs and PFIs to capture emerging opportunities across the expanding GCC ecosystem.
Expert speakers included Mr. Seshagiri Rao MVS, Group CFO of JSW, who spoke on Supporting the Investment Cycle, and Mr. Tanay Kediyal, GCC Enterprise Transformation Expert, who provided perspectives on the evolving GCC ecosystem. Day 2 will cover the remaining three themes: Agriculture and Horticulture Value Chain Infrastructure, Priority Sector Lending, and Reimagining the Credit Card Business, followed by presentations on actionable strategies and innovative solutions emerging from all seven thematic groups.
The Confluence reflects the collective endeavor of the Government, PSBs, and PFIs to build on the progress achieved by the banking sector and prepare for emerging opportunities, with the goal of strengthening institutional capabilities and competitiveness to support India's evolving growth aspirations and its journey toward Viksit Bharat 2047.