 "PSBs")
Public-sector banks (PSBs) will deliberate on strategies to build globally competitive and scaled institutions for Viksit Bharat 2047, which may also involve changes in regulatory stewardship and potential stake dilution in the future, according to a senior banker.
These discussions will take place during the two-day PSB Manthan summit, beginning September 12.
“The two-day Manthan will address several issues related to PSBs, including their long-term growth and emerging challenges such as cybersecurity. This is the first such Manthan with PSBs in over two years,” said a source.
The agenda will cover a wide range of themes, including envisioning the customer experience of the future, strengthening governance and operational excellence, driving innovation through technology partnerships, and improving asset quality.
“Bankers are also expected to discuss building an inclusive and future-ready workforce in PSBs, strategies for scaling banks for Viksit Bharat 2047, and modernising PSB technology,” the source added.
The two-day summit is expected to see the presence of Department of Financial Services (DFS) Secretary M Nagaraju, senior partners from companies like McKinsey & Company and Google Cloud, Reserve Bank of India Deputy Governor Swaminathan J, the chiefs of PSBs, and other finance ministry officials.
The last such Manthan was held in April 2022, with the entire PSB leadership, under the guidance of the DFS, taking the Enhanced Access & Service Excellence reforms to the next level.
During the previous Manthan, six working groups were formed to examine PSB operations and suggest improvements in customer service, digitisation, human resource incentives, corporate governance, and interbank collaboration.
It is worth noting that two rounds of Gyan Sangam were held in 2015 and 2016, leading to several reforms in the banking and financial sectors, including the privatisation of PSBs and insurance companies.
The latest PSB Manthan comes amid record profits for PSBs, with cumulative earnings reaching ₹1.78 trillion in 2024-25 (FY25), a growth of 26 per cent over the previous year. All 12 PSBs had earned a total profit of ₹1.41 trillion in 2023-24, marking a year-on-year increase of about ₹37,100 crore in absolute terms.
Talking points
- Envisioning the future of customer experience and enhancing service delivery
- Discussions on improving governance, operational excellence, and overall efficiency at banks
- Driving innovation through strategic technology partnerships and modernisation of systems
- Focusing on measures to improve the asset quality of PSBs
