Archive · 13 Sep 2025
DFS: State Banks to Drive Growth Towards Viksit Bharat 2047
The Indian government wants state-owned banks to become key players in the country's future.
At a recent meeting, the Department of Financial Services (DFS) discussed how banks can improve and lead India towards becoming a developed nation by 2047.
Banks should focus on better customer service, new ideas, giving out more loans, and using the latest technology.
They also need to ensure digital services are safe and easy to use.
The goal is for these banks to support businesses, agriculture, and new areas like clean energy, all helping India's economy grow.
DFS says PSBs should be drivers of growth towards Viksit Bharat 2047.
The PSB Manthan 2025 event focused on reimagining banking for a developed India.
Discussions centered on customer service, innovation, and tech modernization.
Next-generation tech, digital infrastructure, and AI governance were emphasized.
Closer collaboration among banks, fintechs, and academia is needed.
- Who
- DFS and public sector banks
- What
- PSBs playing a larger role in India's growth
- When
- At PSB Manthan 2025, concluding on Saturday
- Where
- India
- Why
- To drive growth, innovation, and leadership towards Viksit Bharat 2047
- Event
- PSB Manthan 2025
- Goal
- PSBs as drivers of growth for Viksit Bharat 2047
- Focus
- Customer service, governance, innovation, credit expansion, tech modernization
- Key Themes
- Reimagining banking for a developed India, digital services, cyber resilience
- Initiator
- Department of Financial Services (DFS)
Sources
Government aims to push 2 PSBs among top 20 global banks
Public sector banks’ Manthan: With eye on customer service, Finance Ministry enlists private players’ help
Plan to create two super-sized PSBs gets a leg up
India to target two PSBs in top 20 global banks as part Viksit Bharat 2047 plan
India Plans to Place Two State-Run Banks Among World’s Top 20 by 2047
