Centre sets up high-level panel for sweeping banking reforms

The government has formed a five-member committee headed by former central vigilance commissioner Suresh N. Patel to recommend comprehensive banking reforms, as announced in Budget 2026-27. Members include RBI deputy governor Shirish Chandra Murmu and former deputy governor N.S. Vishwanathan. Within six months it will propose structural and regulatory changes across banks, RRBs, cooperatives and NBFCs.