Executive Summary
The PSB Confluence 2026 concluded with the formulation of actionable strategies across seven themes to enhance the competitiveness and leadership of Public Sector Banks (PSBs) and Public Financial Institutions (PFIs). A key outcome is the mandate for a month-long youth-focused campaign commencing on 2nd October 2026 to integrate citizens above 16 years into the formal financial system. The event emphasized translating deliberations into tangible outcomes with clear ownership and timelines to support the "Viksit Bharat 2047" vision.
Key Points / Main Content
Banking for Youth
Initiation of a month-long, coordinated campaign starting 2nd October 2026 for youth aged 16 and above.
Development of a common online portal and application to serve as a single point for banking services, education, skilling, and entrepreneurship info.
Execution of physical outreach through colleges, universities, and dedicated youth engagement spaces.
Priority Sector Lending (PSL)
Emphasis on granular monitoring to identify and address shortfalls in individual targets and sub-targets.
Focus on ensuring genuine and productive credit flow to intended beneficiaries through early gap identification.
Agriculture and Horticulture Value Chains
Strengthening of financing for Farmer Producer Organizations (FPOs), storage, processing, and logistics.
Identification of opportunities to improve market linkages through institutional credit.
Digital Transformation and Credit Business
Reimagining the credit card business through digital onboarding and leveraging RuPay-UPI integration.
Increasing cross-selling efforts to the existing customer base.
Strategic Implementation
Requirement for PSBs and PFIs to translate confluence themes into implementation plans with realistic timelines.
Examination of successful institutional models for wider adoption across the sector.
Impact Analysis
Public Sector Banks (PSBs) and Public Financial Institutions (PFIs)Impact
They are tasked with translating institutional strength into greater competitiveness and lead the next phase of India's economic growth.
Action Required
Implement actionable strategies across seven themes, launch the October youth campaign, and establish a sustained relationship with young customers.
Indian Banks’ Association (IBA)Impact
The IBA is designated as the coordinating body for the upcoming national youth engagement initiative.
Action Required
Coordinate the month-long campaign starting 2nd October 2026 to ensure synchronized execution across banks.
Youth (Citizens above 16 years)Impact
Young citizens will gain easier access to the formal financial system and tailored support for education, employment, and entrepreneurship.
Action Required
Utilize the upcoming common digital platform and physical outreach programs to access financial services and information.
Agricultural Stakeholders (FPOs and Entrepreneurs)Impact
Increased availability of credit and infrastructure support for the agriculture and horticulture value chains.
Action Required
Engage with PSBs to leverage financing for storage, processing, and logistics improvements.
Key Entities Referenced
PSB Confluence 2026: A strategic forum organized by the Ministry of Finance to develop actionable growth strategies across seven themes for Public Sector Banks and Financial Institutions.
Campaign for Youth: A focused, month-long initiative starting in October 2026 designed to engage citizens above 16 years with the formal financial system through a common digital platform.
Priority Sector Lending (PSL): A critical regulatory lending category highlighted for granular monitoring and business strategies to ensure productive credit flow to intended beneficiaries.
Department of Financial Services (DFS): The nodal department within the Ministry of Finance responsible for organizing the confluence and overseeing the implementation of its outcomes.
Indian Banks’ Association (IBA): The coordinating body tasked with managing the national youth engagement campaign to strengthen banking relationships with young customers.
Ministry of Finance
PSB Confluence 2026 concludes with actionable
strategies across seven themes for Public Sector
Banks and Public Financial Institutions
Union Finance Minister Smt. Nirmala Sitharaman calls upon
PSBs for a Focused, Month-long Campaign for Youth
commencing 2nd October 2026
Smt. Nirmala Sitharaman asks Banks to establish a sustained
relationship with Young customers and Support their evolving
financial needs
Common digital platform envisaged to connect youth with
banking services and financial opportunities
PSBs and PFIs urged to translate institutional strength into
greater competitiveness and leadership in India’s journey
towards Viksit Bharat 2047
प्रव तथ: 18 AUG 2026 7:52PM by PIB Delhi
The two-day PSB Confluence 2026, organised by the Department of Financial Services (DFS), Ministry
of Finance, concluded today after extensive deliberations among the leadership of Public Sector Banks
(PSBs) and Public Financial Institutions (PFIs), senior Government officials and domain experts across
seven themes relevant to the next phase of growth of the banking and financial sector.On Day 2, deliberations focused on Agriculture and Horticulture Value Chain Infrastructure, Priority
Sector Lending and Reimagining the Credit Card Business. This was followed by debriefing sessions,
where the thematic groups presented actionable strategies and innovative solutions emerging from
discussions across all seven themes.
Addressing the concluding session, Union Minister for Finance and Corporate Affairs Smt. Nirmala
Sitharaman emphasised the need to translate the deliberations into tangible outcomes. She called upon
PSBs and PFIs to build on their institutional strength, anticipate emerging opportunities and develop
capabilities to support India’s evolving economic requirements.
On Banking for Youth, the Finance Minister called upon PSBs to undertake a focused, month-long
campaign commencing from 2nd October 2026 for youth above 16 years, coordinated through the Indian
Banks’ Association (IBA), to strengthen engagement with young citizens entering the formal financial
system. The initiative would seek to establish a sustained relationship with young customers and enable
banks to support their evolving financial needs as they progress through education, employment,
entrepreneurship, investment and wealth creation.As part of the initiative, a common online portal/application for youth is envisaged to provide a single
point for accessing simple and relevant information on banking services and opportunities relating to
education, skilling and entrepreneurship. The initiative would be complemented by physical outreach
through colleges, universities, skill institutions and other campuses, as well as youth-focused engagement
spaces.
The Finance Minister also emphasised the importance of Priority Sector Lending (PSL) and the need to
pay close attention to shortfalls against individual targets and sub-targets. PSBs were encouraged to
maintain their strong focus on PSL through granular monitoring, early identification of emerging gaps and
appropriate business strategies, with the objective of minimising shortfalls through genuine and productive
credit flow to intended beneficiaries.
The Day 2 deliberations also identified opportunities to strengthen financing across agriculture and
horticulture value chains, including FPOs, storage, processing, logistics and market linkages. Discussions
on Reimagining the Credit Card Business explored strategies around digital onboarding, greater cross-sell
to the existing customer base and leveraging opportunities arising from RuPay-UPI integration. The
deliberations were also enriched by real-world experiences shared by CA Arvind Agarwal, Director, VNR
Group, on Agriculture and Horticulture Value Chain Infrastructure, and Shri Sanjay Mehndiratta, Director,
Toy Zone, on Priority Sector Lending, bringing practical perspectives from their respective entrepreneurial
journeys.
Secretary, DFS, emphasised that the Confluence has enabled sharper identification of priorities and clearer
actionable across the seven themes. PSBs and PFIs would now need to translate these into implementation
with clear ownership and realistic timelines, while successful institutional models could be examined for
wider adoption.
PSB Confluence 2026 brought together the collective experience and capabilities of PSBs, PFIs,
Government and domain experts across areas critical to the future of banking. The actionable strategies
emerging from the Confluence will now be taken forward by the concerned institutions through
appropriate follow-up and implementation. As India advances towards Viksit Bharat 2047, PSBs and PFIs
will continue to play an important role in deepening financial inclusion, financing emerging opportunities
and supporting the country’s next phase of growth.
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