Govt Forms Six-Member Panel Committee To Review Regulations, Capital Needs And Digital Innovation In Banking Sector

Govt Forms Six-Member Panel Committee To Review Regulations, Capital Needs And Digital Innovation In Banking Sector

MENAFN- KNN India) New Delhi, Oct 31 (KNN) The government has constituted a High-Level Committee on Banking for Viksit Bharat to review the banking sector and recommend structural, institutional, regulatory and legislative reforms to make it globally competitive, financially inclusive and resilient by 2047, the Ministry of Finance said in a release.

Former Central Vigilance Commissioner Suresh N Patel will chair the six-member committee, which will include RBI Deputy Governor Shirish Chandra Murmu, former Indian Bank MD and CEO Padmaja Chunduru, and former RBI Deputy Governor N S Vishwanathan. The Joint Secretary (Banking), Department of Financial Services, will serve as Member Secretary.

The committee will submit its recommendations within six months.

The committee was announced by Finance Minister Nirmala Sitharaman in her Budget speech for 2026-27.

Committee to Review Banking Regulations and Capital Needs

The committee will assess existing banking practices and prudential norms against global standards and prepare a roadmap for developing globally competitive India...