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<p>The Union Budget 2026 placed banking reforms at the centre of the government’s financial sector agenda, with Finance Minister Nirmala Sitharaman announcing the formation of a high-level committee to review the banking sector. The panel will guide reform-led growth as India enters the next phase of economic expansion.</p>
<h2><strong>Banks highlighted as financially stronger</strong></h2>
<p>In her Budget speech, Sitharaman said the Indian banking system is now on a strong footing. She pointed to healthy balance sheets, record profitability, and a sharp improvement in asset quality. The provision coverage ratio has crossed 98 per cent, indicating that banks are better prepared to absorb potential stress.</p>
<p>The government said these improvements reflect years of balance sheet repair and reforms in the financial sector. With bad loans under control, banks are seen as capable of supporting higher credit growth.</p>
<p> </p>
<blockquote><p dir="ltr" lang="en" xml:lang="en">I propose setting up a high-level committee on banking for Viksit Bharat to comprehensively review the sector and align it with India's next phase of growth, while safeguarding financial stability, inclusion and consumer protection.</p>
<p>- FM Smt. <a href="https://twitter.com/nsitharaman?ref_src=twsrc%5Etfw">@nsitharaman</a><a href="https://twitter.com/hashtag/ViksitBharatBudget?src=hash&amp;ref_src=twsrc%5Etfw">#ViksitBharatBudget</a> <a href="https://t.co/qtUv8iN8P3">pic.twitter.com/qtUv8iN8P3</a></p>
<p>— BJP (@BJP4India) <a href="https://twitter.com/BJP4India/status/2017844390895759541?ref_src=twsrc%5Etfw">February 1, 2026</a></p></blockquote>
<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><h2><strong>High-level banking committee announced</strong></h2>
<p>To sustain reform momentum, the government will set up a high-level committee on banking under the Viksit Bharat framework. The panel will conduct a comprehensive review of the banking system. It will suggest reforms to support India’s next phase of economic growth.</p>
<p>In budget speech FM said, I propose setting up a high-level committee on banking for Viksit Bharat to comprehensively review the sector and align it with India's next phase of growth, while safeguarding financial stability, inclusion and consumer protection.</p>


The Union Budget 2026 placed banking reforms at the centre of the government’s financial sector agenda, with Finance Minister Nirmala Sitharaman announcing the formation of a high-level committee to review the banking sector. The panel will guide reform-led growth as India enters the next phase of economic expansion.Banks highlighted as financially strongerIn her Budget speech, Sitharaman said the Indian banking system is now on a strong footing. She pointed to healthy balance sheets, record profitability, and a sharp improvement in asset quality. The provision coverage ratio has crossed 98 per cent, indicating that banks are better prepared to absorb potential stress.The government said these improvements reflect years of balance sheet repair and reforms in the financial sector. With bad loans under control, banks are seen as capable of supporting higher credit growth. I propose setting up a high-level committee on banking for Viksit Bharat to comprehensively review the sector and align it with India's next phase of growth, while safeguarding financial stability, inclusion and consumer protection.- FM Smt. @nsitharaman#ViksitBharatBudget pic.twitter.com/qtUv8iN8P3— BJP (@BJP4India) February 1, 2026High-level banking committee announcedTo sustain reform momentum, the government will set up a high-level committee on banking under the Viksit Bharat framework. The panel will conduct a comprehensive review of the banking system. It will suggest reforms to support India’s next phase of economic growth.In budget speech FM said, I propose setting up a high-level committee on banking for Viksit Bharat to comprehensively review the sector and align it with India's next phase of growth, while safeguarding financial stability, inclusion and consumer protection.

Union Budget 2026: Government to form high-level committee to review banking sector

The Union Budget 2026 placed banking reforms at the centre of the government’s financial sector agenda, with Finance Minister Nirmala Sitharaman announcing the formation of a high-level committee to review the banking sector. The panel will guide reform-led growth as India enters the next phase of economic expansion. Banks highlighted as financially stronger In her Budget speech, Sitharaman said the Indian banking system is now on a strong footing. She pointed to healthy balance sheets, record profitability, and a sharp improvement in asset quality. The provision coverage ratio has crossed 98 per cent, indicating that banks are better prepared to absorb potential stress. The government said these improvements reflect years of balance sheet repair and reforms in the financial sector. With bad loans under control, banks are seen as capable of supporting higher credit growth.   I propose setting up a high-level committee on banking for Viksit Bharat to comprehensively review the sector and align it with Indias next phase of growth, while safeguarding financial stability, inclusion and consumer protection. - FM Smt. @nsitharaman#ViksitBharatBudget pic.twitter.com/qtUv8iN8P3 — BJP (@BJP4India) February 1, 2026 High-level banking committee announced To sustain reform momentum, the government will set up a high-level committee on banking under the Viksit Bharat framework. The panel will conduct a comprehensive review of the banking system. It will suggest reforms to support India’s next phase of economic growth. In budget speech FM said, I propose setting up a high-level committee on banking for Viksit Bharat to comprehensively review the sector and align it with Indias next phase of growth, while safeguarding financial stability, inclusion and consumer protection.

Union Budget 2026: Government to form high-level committee to review banking sector

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Union Budget 2026: Government to form high-level committee to review banking sector

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