On February 1, Finance Minister Nirmala Sitharaman announced the establishment of a high-level committee on banking aimed at facilitating India’s economic growth.
This committee will evaluate the banking system, ensuring financial stability and consumer protection. Sitharaman highlighted the strength of Indian banks, with improved asset quality and profit margins.
The government will also restructure public sector NBFCs into more robust entities and modernize non-debt investment regulations for foreign investors. Additionally, it plans to enhance the corporate bond market with new frameworks and incentivize municipal bond issuance for larger cities.
