The Department of Financial Services (DFS), Ministry of Finance, had organised PSB Manthan 2025, a two-day event aimed at shaping the future role of Public Sector Banks (PSBs) in India’s economic growth.
The event, chaired by the Secretary of DFS, brought together senior PSB leaders, regulators, industry experts, and academics.
In his opening remarks, the Secretary of DFS stated that PSBs have moved beyond survival and are now well-positioned to contribute to innovation, growth, and global competitiveness as India works towards achieving Viksit Bharat 2047.
The discussions centred on strengthening governance, enhancing customer experience, expanding credit growth, managing risks, modernising technology, and preparing the workforce for future challenges.
A key outcome of the event was the focus on adopting next-generation technologies, improving digital infrastructure, and ensuring cybersecurity. Participants emphasised the need for responsible use of Artificial Intelligence (AI), process simplification, and collaborations with technology partners to foster innovation and avoid vendor lock-in.
The role of PSBs in supporting traditional sectors such as agriculture and housing, as well as emerging industries like renewable energy, electric mobility, and digital services, was highlighted. The discussions also underscored the importance of customer-centricity, timely grievance redressal, and inclusive growth.
The event concluded with a shared commitment to transform PSBs into globally competitive institutions that support national priorities and contribute to sustainable development as India advances towards Viksit Bharat 2047.
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