The Department of Financial Services (DFS), Ministry of Finance, organised the two-day PSB Confluence 2026. The event brought together senior officials of Public Sector Banks (PSBs), Public Financial Institutions (PFIs), government officials and banking experts to discuss important opportunities and future priorities for India’s banking and financial sector. Union Finance Minister and Corporate Affairs Minister Nirmala Sitharaman and the Secretary of the Department of Financial Services addressed the participants on the first day.
Seven Key Themes for Banking Sector
The Confluence is based on seven important themes related to the future of PSBs and PFIs. The discussions are aimed at finding practical solutions and strategies that can be implemented and expanded across different institutions.
Nirmala Sitharaman highlighted the importance of the seven themes in strengthening the banking sector, financial inclusion and credit growth. She said that the historically low level of Non-Performing Assets (NPAs) has put the banking sector in a strong position to move ahead with the next phase of reforms.
Banking for Youth Gets Special Focus
The Finance Minister said that the future of banking should take into account the needs and expectations of young people. She highlighted that around 29% of India’s population is between 15 and 29 years of age.
The discussions focused on developing banking products and services that meet the financial needs of young people and help them access opportunities related to education, entrepreneurship, internships and careers.
Four Themes Discussed on Day 1
Four of the seven themes were discussed in detail on the first day. These included Deposit Mobilisation, Banking for Youth, Supporting the Investment Cycle and Global Capability Centres (GCCs).
The discussions on deposit mobilisation focused on strengthening the deposit base through better customer engagement. The Banking for Youth theme focused on creating banking solutions suited to young customers. The Investment Cycle theme covered ways to improve institutional capabilities and financing solutions, while the GCC discussion focused on opportunities arising from the growing GCC ecosystem.
Role of MY Bharat in Youth Banking
The participants also discussed the possibility of using Mera Yuva Bharat (MY Bharat), a national platform of the Department of Youth Affairs, for wider engagement with young people.
Dr. Priyanka Shukla, CEO of MY Bharat, participated as an expert speaker. With more than 2.60 crore registered users and a wide outreach network, MY Bharat can help improve young people’s connection with the formal financial system and increase awareness about education finance, entrepreneurship, internships and careers in the financial sector.
Experts Share Their Views
The discussions were also supported by views from experts. Seshagiri Rao MVS, Group CFO of JSW, shared his views on supporting the investment cycle. Tanay Kediyal, a GCC Enterprise Transformation Expert, spoke about the changing opportunities in the GCC sector.
Three More Themes on Day 2
The second day of the Confluence will focus on the remaining three themes. These are Agriculture and Horticulture Value Chain Infrastructure, Priority Sector Lending and Reimagining the Credit Card Business.
The event will also include presentations on practical strategies and innovative solutions developed by the seven thematic groups.
Focus on Viksit Bharat 2047
The PSB Confluence aims to build on the progress made by the banking sector and prepare PSBs and PFIs for future opportunities. The discussions are expected to help strengthen institutional capabilities and competitiveness and enable public sector financial institutions to better support India’s economic growth and the goal of Viksit Bharat 2047.
