Gurugram: The Department of Financial Services (DFS), Ministry of Finance, concluded PSB Manthan 2025, a two-day programme bringing together leaders from Public Sector Banks (PSBs), regulators, industry experts, technologists, and academicians. The event was chaired by the Secretary, DFS.
Eminent speakers included Swaminathan J., Deputy Governor, RBI; Dr. V. Anantha Nageswaran, Chief Economic Adviser; M. Damodaran, former SEBI Chairman; Debasish Panda, former IRDAI Chairman; and former Deputy Governors of RBI, R. Gandhi, N.S. Vishwanathan, M.K. Jain. Former SBI Chairmen Rajnish Kumar and Dinesh Kumar Khara also participated, alongside several distinguished leaders from finance, technology, and academia.
PSBs Positioned as Champions of Growth
In his opening remarks, the Secretary, DFS, noted that PSBs have moved beyond survival and stability. He highlighted their growing role in driving innovation, leadership, and financial inclusion on India’s path to Viksit Bharat 2047. Strengthening governance, operational resilience, and global competitiveness were emphasised as key priorities.
The Secretary also urged PSBs to expand their sectoral presence, supporting both traditional industries and emerging sectors such as renewable energy, electric mobility, green hydrogen, semiconductors, shipbuilding, and digital enterprises.
Deliberations on Governance, Technology, and Customer Centricity
The programme featured seven panel discussions, three expert sessions, a fireside chat, and open house interactions. Key themes included customer experience, risk management, credit growth, technology modernisation, workforce readiness, and purposeful innovation.
Discussions focused on reimagining digital customer journeys, embedding operational excellence, and fostering innovation. Recommendations were made to simplify processes, ensure timely grievance redressal, and deliver seamless services. Participants also highlighted adopting next-generation technologies, building shared infrastructure, and offering hyper-personalised products.
Modernising Technology and AI Governance
Speakers stressed upgrading legacy banking systems to agile, interoperable platforms capable of seamless digital service delivery. Cyber resilience, integration with India’s digital public infrastructure, and robust governance frameworks for AI were key focus areas. The framework aims to strengthen model risk management, ensure responsible AI adoption, and mitigate emerging technological risks.
Engagement with fintechs, academia, global institutions, and entrepreneurs was highlighted to accelerate innovation. Open and interoperable technology partnerships were recommended to prevent vendor lock-in and ensure long-term flexibility.
Strengthening PSBs for Global Competitiveness
The discussions emphasised that PSBs must deepen strengths in agriculture, MSMEs, housing, and infrastructure while emerging as enablers of sunrise sectors. Customer-centricity, process optimisation, continuous HR training, and reimagined service delivery were underscored to build efficiency, inclusiveness, and trust.
Interactive open house sessions enabled PSB leaders to share experiences, suggest actionable pathways, and address future challenges around governance, technology adoption, and customer trust.
Pathway to Viksit Bharat 2047
PSB Manthan 2025 concluded with a shared vision for short-term priorities in governance, credit delivery, technology, and customer service. Long-term goals include positioning PSBs as globally competitive institutions aligned with sustainable growth and national development objectives.
The programme reaffirmed that bold ambitions, transformative purpose, and innovation will define the future of Indian banking, with PSBs central to advancing national priorities.
Also Read: From Survival to Leadership: PSBs Redefine Role of India’s Growth Story
