The Government of India has constituted a High Level Committee on Banking for Viksit Bharat to review the country’s banking sector and recommend structural, institutional, regulatory and legislative reforms to make it globally competitive, financially inclusive and resilient for Viksit Bharat, 2047.
Union Minister of Finance Nirmala Sitharaman had announced the setting up of the Committee in her Budget speech 2026-27.
Suresh N. Patel, former Central Vigilance Commissioner, will head the Committee as its Chairman. Its members include Shirish Chandra Murmu, Deputy Governor, Reserve Bank of India; Padmaja Chunduru, former MD & CEO, Indian Bank; and N S Vishwanathan, former Deputy Governor, Reserve Bank of India.
The Joint Secretary (Banking), Department of Financial Services, will serve as the Member Secretary. The Committee will have a tenure of six months.
The Committee will assess existing banking practices and prudential norms, identify global best practices and adapt them to the Indian banking system. It will also prepare a roadmap for creating globally competitive banks.
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