# India to form banking panel by October for Viksit Bharat

> India's government plans a high-level banking committee by October to advance Viksit Bharat goals.
- Title: India to form banking panel by October for Viksit Bharat
- Summary: India's government plans a high-level banking committee by October to advance Viksit Bharat goals. A 10-member banking panel with public-private…
- Keywords: vicksit bharat, banking panel, rbi, indian banks association, economic advisory council, fintech, seahawks, nfl, India, form, banking, panel
- Source: The Economic Times — https://economictimes.indiatimes.com/industry/banking/finance/banking/high-level-panel-on-banking-likely-by-october-end/articleshow/134419394.cms
- Author: Dheeraj Tiwari
- Published: 2026-09-22T18:58:00+00:00
- Read time: 1 min
- Topics: vicksit bharat, banking panel, rbi, indian banks association, economic advisory council, fintech, seahawks, nfl
## New banking panel set to launch
India's government will form a 10-member high-level banking committee by October-end for Viksit Bharat.

> The committee will have representation from IBA and sectoral experts, including from fintech companies and the Economic Advisory Council to the Prime Minister
## Key committee members in focus
Potential members include former RBI deputy governor Michael Patra, ex-financial services secretary M Nagaraju, and ex-SBI chairman Dinesh Khara.

> Some of the names being considered for the committee include former RBI deputy governor Michael Patra
## Committee's focus areas
The panel will address large bank ecosystems, credit penetration, AI challenges, climate risks, and sanctions preparedness.

> Largely, the agenda will focus on building an ecosystem for large banks, deepening credit penetration and preparing the system for unilateral sanctions
## Government timeline for reforms
Finance Minister Nirmala Sitharaman confirmed the panel will be announced soon to align banking with Viksit Bharat's 2047 vision.

> Once the committee forms its views and recommendations, the government will be ready to rev up the Indian economy
## EAC-PM paper recommendations
The Economic Advisory Council suggests consolidating banks without harming competition while boosting credit for MSMEs and green investments.

> India should make efforts to consolidate the banks in such a manner that a few big banks of equal size are created without compromising market competition
## Key takeaway

A 10-member banking panel with public-private representation will shape India's financial reforms by October.