New Delhi, August 18: The Department of Financial Services (DFS), Ministry of Finance, on Monday began the two-day PSB Confluence 2026, bringing together senior leadership of Public Sector Banks (PSBs) and Public Financial Institutions (PFIs), government officials and industry experts to discuss emerging opportunities and strategic priorities for India’s banking and financial sector.
The first day of the confluence focused on four of the seven themes identified for detailed deliberations — deposit mobilisation, banking for youth, supporting the investment cycle and Global Capability Centres (GCCs).
Union Finance and Corporate Affairs Minister Nirmala Sitharaman and the Secretary, Department of Financial Services, addressed the gathering on the opening day.
Sitharaman underlined the importance of the seven themes in strengthening the banking sector, financial inclusion and credit delivery. She noted that the historically low level of non-performing assets (NPAs) has placed the banking sector in a position of strength to pursue the next phase of reforms.
On banking for youth, the Finance Minister said the future of banking must respond to the aspirations and financial needs of India’s young population.
She noted that around 29 per cent of India’s population is between 15 and 29 years of age, highlighting the scale of the opportunity for banks to develop products and services tailored to young customers.
Secretary, DFS, outlined the objectives of the confluence and stressed the need to convert the discussions into concrete and implementable outcomes.
He called upon PSBs and PFIs to anticipate emerging opportunities, strengthen institutional capabilities, learn from successful practices across institutions and leverage their collective experience to support the next phase of India’s economic growth.
Under Deposit Mobilisation, participants discussed strategies to strengthen banks’ deposit bases through deeper customer engagement and more responsive financial products.
The Banking for Youth discussions examined ways to develop banking propositions that address the aspirations, financial needs and changing preferences of young Indians.
The Supporting the Investment Cycle theme focused on enhancing institutional capabilities and developing financing solutions to meet the evolving requirements of investment and economic expansion.
Discussions on Global Capability Centres examined ways for PSBs and PFIs to capture emerging opportunities from India’s rapidly expanding GCC ecosystem.
The deliberations were supported by expert perspectives, including those of Seshagiri Rao MVS, Group CFO, JSW, who spoke on supporting the investment cycle, and Tanay Kediyal, GCC Enterprise Transformation Expert, who shared insights on the evolving GCC landscape.
As part of the discussions on banking for youth, participants explored the potential of leveraging Mera Yuva Bharat (MY Bharat), a national platform under the Department of Youth Affairs, Ministry of Youth Affairs and Sports.
Dr Priyanka Shukla, CEO, MY Bharat, participated as an expert speaker and shared perspectives on youth engagement and outreach.
With more than 2.60 crore registered users and an extensive outreach network, MY Bharat could help banks strengthen young people’s connection with the formal financial system and improve awareness of opportunities related to education finance, entrepreneurship, internships and careers in financial services.
The second day of PSB Confluence 2026 will focus on the remaining three themes — Agriculture and Horticulture Value Chain Infrastructure, Priority Sector Lending and Reimagining the Credit Card Business.
The confluence will conclude with presentations on actionable strategies and innovative solutions emerging from all seven thematic groups.
The initiative reflects the collective efforts of the government, PSBs and PFIs to build on the banking sector’s progress and prepare institutions for emerging opportunities.
The deliberations are aimed at strengthening institutional capabilities and competitiveness while enabling PSBs and PFIs to play a stronger role in supporting India’s evolving growth ambitions and the country’s journey towards Viksit Bharat 2047.