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flag India forms a high-level banking committee to boost financial inclusion and support its 2047 developed-nation goal.

flag India plans to establish a High-Level Committee on Banking for Viksit Bharat to strengthen its banking sector and support the nation’s goal of becoming a developed country by 2047. flag The committee will assess ways to expand banking infrastructure, improve credit access, and ensure financial inclusion, with a focus on long-term stability and efficiency. flag While public sector bank mergers are under consideration, the government emphasizes broader systemic reforms over mergers alone. flag The move follows a budget announcement to restructure key public sector non-banking firms, including a proposed merger between Power Finance Corporation and Rural Electrification Corporation, which already have a controlling ownership link.

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