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Govt constitutes high-level banking committee for Viksit Bharat; Suresh N Patel named chairman

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Govt constitutes high-level banking committee for Viksit Bharat; Suresh N Patel named chairman

Govt constitutes high-level banking committee for Viksit Bharat; Suresh N Patel named chairman

The government has constituted a four-member High Level Committee on Banking for Viksit Bharat, chaired by former Central Vigilance Commissioner Suresh N Patel and including RBI Deputy Governor Shirish Chandra Murmu, former Indian Bank MD & CEO Padmaja Chunduru and former RBI Deputy Governor N S Vishwanathan, to recommend reforms across banking regulation, capital, technology and financial inclusion.

The Ministry of Finance on Friday announced that it has constituted the High Level Committee on Banking for Viksit Bharat , tasked with undertaking a comprehensive review of the banking sector and recommending structural, institutional, regulatory and legislative reforms to make Indian banks globally competitive, financially inclusive and resilient. The committee will be chaired by Suresh N Patel , former Central Vigilance Commissioner, and will have three members — Shirish Chandra Murmu, Deputy Governor, Reserve Bank of India; Padmaja Chunduru, former MD & CEO, Indian Bank; and N S Vishwanathan, former Deputy Governor, RBI. The Joint Secretary (Banking), Department of Financial Services, will be the member secretary. The committee will have a tenure of six months.

The panel has been given a broad mandate covering the regulatory framework for banks, including Regional Rural Banks and cooperative banks, long-term capital requirements of banks, Development Financial Institutions and NBFCs, cost of capital for businesses, AI and digital innovation, cybersecurity and talent development. It will also review the existing Priority Sector Lending framework and Lead Bank Scheme, including their relevance and effectiveness in supporting inclusive and balanced credit delivery in line with changing economic priorities and financial inclusion objectives.


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