Government Forms Committee To Create Mega-Lenders

Finance Minister Nirmala Sitharaman said the government will soon form a High-Level Committee on Banking for Viksit Bharat to design a blueprint creating mega-lenders capable of financing India's development. Announced in the February 1, 2026 Budget, the committee will review sector changes, including possible restructurings such as the PFC-REC merger, to scale public finance while safeguarding stability and inclusion.