The two-day ‘PSB Confluence 2026’ concluded on Tuesday, during which Public Sector Banks (PSBs) and Public Financial Institutions (PFIs) discussed strategies to strengthen the banking and financial sector to accelerate the goal of ‘Viksit Bharat 2047’. Organized by the Department of Financial Services (DFS) under the Ministry of Finance, the event saw senior banking leaders, government officials, and experts share their insights on emerging challenges and priorities within the financial sector.
In the concluding session, Union Finance Minister Nirmala Sitharaman emphasized translating discussions into concrete outcomes. She called upon banks and financial institutions to strengthen institutional capacity, identify new opportunities, and prepare themselves to meet India’s evolving economic needs.
Finance Minister Nirmala Sitharaman has directed Public Sector Banks (PSBs), in collaboration with the Indian Banks’ Association (IBA), to launch a special month-long campaign starting October 2, 2026, for youth aged over 16. The objective is to connect young people with banking services and support them throughout their financial journey, spanning education, employment, business, investment, and wealth creation over the long term.
A common online portal or application for youth is planned as a one-stop platform for easy access to banking, education, skilling and entrepreneurship opportunities, supported by outreach programmes at colleges, universities and skill institutions.
The discussion on the second day emphasized strengthening financing for the entire agriculture and horticulture value chain, covering areas such as FPOs, storage, processing, logistics, and market linkages.
Emphasizing the importance of Priority Sector Lending (PSL), Finance Minister Nirmala Sitharaman directed Public Sector Banks (PSBs) to regularly monitor shortfalls against targets and sub-targets. She stressed the need to identify gaps in a timely manner, adopt appropriate strategies, and ensure the delivery of productive credit to deserving beneficiaries.
Discussions at the Confluence focused on opportunities to expand the credit card business through digital onboarding, offering additional services to existing customers, and RuPay-UPI integration. Meanwhile, CA Arvind Agrawal, Director of VNR Group, shared insights on agri-horticulture value chain infrastructure, while Sanjay Mehndiratta, Director of Toy Zone, shared his experiences regarding priority sector lending.
The second day concluded with a debriefing session, during which various groups presented practical strategies and innovative solutions based on their discussions across the seven themes.
PSB Confluence 2026 brought PSBs, PFIs, the government, and experts together on a single platform to address key issues concerning the banking and financial sector. The strategies that emerged from this event will be taken forward through effective implementation. PSBs and PFIs will play a pivotal role in driving financial inclusion, financing new opportunities, and fostering the nation’s economic progress as India moves towards the goal of ‘Viksit Bharat 2047’.
