The Department of Financial Services (DFS) held a high-level review meeting at Vigyan Bhawan, New Delhi, chaired by its Secretary, M. Nagaraju. The gathering brought together the leadership of all major Public Sector Banks (PSBs) to undertake a comprehensive evaluation of their progress during the financial year 2025-26.
The Finance Ministry confirmed that the performance of PSBs was assessed across a wide range of critical areas — including business growth, profitability, asset quality, digital banking ecosystem development, MSME credit flow, cyber resilience, and operational risk management. The ministry highlighted that PSBs demonstrated strong financial and operational performance during the year under review.
The review also covered progress made under major financial inclusion initiatives. These included the Pradhan Mantri Jan Dhan Yojana (PMJDY), social security schemes, Pradhan Mantri Mudra Yojana (PMMY), PM Vishwakarma, and various digital lending initiatives aimed at improving last-mile credit access.
Deliberations at the meeting stressed the importance of strengthening digital banking ecosystems and enhancing cyber security frameworks. A significant focus was placed on improving the flow of credit to MSMEs and other productive sectors of the economy, recognising their critical role in employment generation and economic growth. Additionally, bank leadership was urged to adopt prudent expenditure and austerity measures across all levels while maintaining resilience amid evolving global uncertainties.
M. Nagaraju emphasised the need for robust grievance redressal systems, strong governance standards, and operational preparedness, noting that these are the pillars that will keep the banking system resilient, trusted, and aligned with the vision of Viksit Bharat 2047. As a further step toward digital transparency, the revamped website of the Department of Financial Services — now offering enhanced accessibility, seamless navigation, and content in more than 23 regional languages — was formally launched at the event.
