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PSB Manthan 2025: Public Sector Banks to Drive Transformation Towards Viksit Bharat 2047
PSB Manthan 2025 in Gurugram outlined the future of Indian banking with a focus on growth, technology, and global competitiveness. The conclave positioned Public Sector Banks as key drivers towards Viksit Bharat 2047.
Author: Kanal English Desk
Published: 1 hour ago
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The Department of Financial Services (DFS), Ministry of Finance, organised PSB Manthan 2025, a two-day conclave in Gurugram which concluded on Saturday. The event brought together senior leaders from Public Sector Banks (PSBs), regulators, policymakers, industry experts, technologists, and academicians to discuss the future of Indian banking in the journey towards Viksit Bharat 2047; Business Line Reported.
Distinguished Speakers.
The programme was chaired by the Secretary of Financial Services and featured eminent speakers, including:
- Swaminathan J, Deputy Governor, Reserve Bank of India
- V. Anantha Nageswaran, Chief Economic Adviser
- M. Damodaran, Former SEBI Chairman
- Debasish Panda, Former IRDAI Chairman
- Former RBI Deputy Governors R. Gandhi, N.S. Vishwanathan, and M.K. Jain
- Former SBI Chairmen Rajnish Kumar and Dinesh Kumar Khara
Several other leaders from finance, industry, technology, and academia also took part.
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Key Messages
In the opening remarks, the Secretary, Financial Services, stressed that PSBs have moved beyond survival and stability. They are now positioned to become leaders of growth, innovation, and global competitiveness. He also highlighted the importance of strong governance, operational resilience, and an expanded role across both traditional and emerging industries.
Focus Areas of Discussion
The conclave featured seven panel discussions, three expert sessions, a fireside chat, and open house interactions. Key themes included:
- Customer experience and trust
- Governance and risk management
- Purposeful innovation and credit growth
- Workforce readiness and HR training
- Technology modernisation and digital services
National Priorities and Sectoral Growth
Speakers emphasised the need for modernising PSB technology, moving away from outdated systems towards agile, interoperable platforms. They also discussed the role of AI governance, cyber resilience, and responsible adoption of emerging technologies.
National Priorities and New Opportunities
PSBs were urged to continue strengthening their traditional role in agriculture, MSMEs, housing, and infrastructure, while also becoming key enablers of sunrise sectors like renewable energy, electric mobility, green hydrogen, semiconductors, shipbuilding, and digital industries. Collaboration with fintechs, academia, entrepreneurs, and global institutions was seen as essential to accelerate innovation.
Global Competitiveness
The discussions highlighted the need for PSBs to evolve into globally competitive banks that can support Indian enterprises overseas and stand alongside leading international institutions. Technology adoption, customer-centricity, and process re-design were identified as critical steps to enhance efficiency, inclusiveness, and customer trust.
Outcome
PSB Manthan 2025 created a shared vision for the future of Indian banking. In the near term, the focus will remain on governance, customer service, credit delivery, and technology upgrades. In the long term, PSBs aim to transform into globally respected institutions aligned with India’s aspiration of becoming a developed economy by 2047.
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