The Government of India Constitutes the ‘High Level Committee on Banking for Viksit Bharat’

The Government of India has constituted the 'High Level Committee on Banking for Viksit Bharat' to review India's banking sector and recommend structural, institutional, regulatory, and legislative reforms. Announced initially in the Budget 2026-27 by the Union Minister of Finance and Corporate Affairs, the committee is chaired by Shri Suresh N. Patel, former Central Vigilance Commissioner, with three other members and a tenure of six months. Its terms of reference include assessing present banking practices, reviewing regulatory and legal frameworks for banks including Regional Rural Banks and Cooperative Banks, assessing long-term capital requirements, examining cost of capital differences, preparing a roadmap for AI, digital innovation, and cyber security, and reviewing the Priority Sector Lending framework and Lead Bank Scheme.