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Banking and finance is proposed to have a new committee to oversee and review the overall sector to forecast and evaluate the measures required to continue of reform-led growth, finance minister Nirmala Sitharaman said during her Union Budget 2026 speech on Sunday.
Highlighting that 98% of the country’s villages have access to banking services, Sitharaman said a high-level committee on banking for ‘Viksit Bharat’ will comprehensively review the sector and align it with India’s next phase of growth, while safeguarding financial stability, inclusion and consumer protection.
Further, the proposal outlined a vision for non-banking financial companies (NBFCs), with clear targets for credit disbursement and technology adoption. As a first step to achieve scale and improve efficiency in public sector NBFCs, Sitharaman said the government plans to restructure the Power Finance Corporation and Rural Electrification Corporation.
The post Union Budget 2026: High-Level Committee To Review Banking Sector On The Cards appeared first on Inc42 Media.
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