The PSB Confluence opened its two-day run with a packed first day. The Department of Financial Services (DFS), Ministry of Finance, organised the event. Senior leadership from Public Sector Banks (PSBs) and Public Financial Institutions (PFIs) attended. Government officials and domain experts joined the discussions. The PSB Confluence focused on emerging opportunities and strategic priorities for India’s banking and financial sector.
PSB Confluence Structured Around Seven Themes
The PSB Confluence covers seven themes in total. Each theme addresses a key opportunity area for PSBs and PFIs. The deliberations aim to identify practical strategies. Institutions can scale these solutions across their operations.
Finance Minister Addresses PSB Confluence Day 1
Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman addressed the PSB Confluence on Day 1. The Secretary, Department of Financial Services, also spoke at the event. Sitharaman highlighted the importance of the seven themes for banking, financial inclusion and credit growth. She noted that historically low Non-Performing Assets (NPAs) place the banking sector in a strong position. This strength enables the sector to pursue its next phase of reforms.
Youth Emerges as Key Focus Area
Sitharaman emphasised that the future of banking must reflect youth aspirations. She pointed out that 29% of India’s population falls between 15 and 29 years of age. This demographic will shape banking priorities going forward.
The Secretary, DFS, outlined the objectives of the PSB Confluence. He stressed the need to translate deliberations into concrete, implementable outcomes. He called on PSBs and PFIs to anticipate emerging opportunities. He also urged institutions to strengthen capabilities and draw on successful approaches across the sector.
Four Themes Take Centre Stage on Day 1
Day 1 of the PSB Confluence covered four of the seven themes in detail. These included Deposit Mobilisation, Banking for Youth, Supporting the Investment Cycle and Global Capability Centres (GCCs).
Discussions explored ways to strengthen the deposit base through deeper customer engagement. Speakers also examined banking propositions tailored to youth aspirations and financial needs. The sessions covered institutional capabilities and financing solutions for the evolving investment cycle. Participants also discussed how PSBs and PFIs can capture opportunities in the expanding GCC ecosystem.
Expert speakers enriched the discussions. Mr. Seshagiri Rao MVS, Group CFO, JSW, spoke on Supporting the Investment Cycle. Mr. Tanay Kediyal, GCC Enterprise Transformation Expert, addressed the evolving GCC landscape.
MY Bharat Platform Explored for Youth Engagement
The Banking for Youth discussions at the PSB Confluence explored the potential of Mera Yuva Bharat (MY Bharat). This national platform falls under the Department of Youth Affairs, Ministry of Youth Affairs and Sports. Dr. Priyanka Shukla, CEO, MY Bharat, participated as an expert speaker. She shared perspectives on youth outreach strategies.
MY Bharat has over 2.60 crore registered users. Its extensive outreach network can strengthen young people’s connection with the formal financial system. The platform can also raise awareness about education finance, entrepreneurship, internships and careers in the financial sector.
What to Expect on Day 2 of the PSB Confluence
Day 2 will cover the remaining three themes. These include Agriculture and Horticulture Value Chain Infrastructure, Priority Sector Lending and Reimagining the Credit Card Business. The day will also feature presentations on actionable strategies from all seven thematic groups.
PSB Confluence to Shape Banking Reforms for Viksit Bharat
Sitharaman announced that a High-Powered Committee on Banking Reforms for Viksit Bharat will be set up soon. Conclusions from the PSB Confluence will feed directly into this committee’s work. The event reflects a collective effort by the Government, PSBs and PFIs. The initiative aims to strengthen institutional capabilities and competitiveness. It positions PSBs and PFIs to support India’s growth aspirations and its journey towards Viksit Bharat 2047.
