Government forms high-level panel to make Indian banks globally competitive

The government has set up the High-Level Committee on Banking for Viksit Bharat, headed by former Central Vigilance Commissioner Suresh N Patel. It has six months to recommend roadmaps for globally competitive banks and AI-led digital innovation, with cyber-risk safeguards. The government hopes one or two Indian banks reach the world's top 20 by 2047; SBI currently ranks 45th.