RBI's FCNR U-Turn Shakes Policy Confidence as Banking Reform Push Gains Momentum

Finance Minister Nirmala Sitharaman confirmed at the PSB Confluence 2026 in Delhi that a high-powered committee on "Banking for Viksit Bharat" will be constituted this month. The panel will comprehensively review the sector and align it with India's 2047 developed-nation vision. Sitharaman pointed to NPAs at their lowest level ever as proof that public sector banks have cleaned up their balance sheets and are now ready for the next phase of growth. With strengthened...