Finance Minister Unveils Plan: High-Level Banking Committee to Suggest Bank Mergers

• Finance Minister Nirmala Sitharaman announced a high-level banking committee to achieve Viksit Bharat.
• The committee will create a blueprint for 'Mega Lenders' to meet funding needs of a developed India.
• Its objective is to make India's banking sector large and capable enough for future funding requirements.
• The committee will comprehensively review the banking sector for development, stability, and inclusion.
• Formation of the committee was proposed in the February 1 Budget speech and will be constituted soon.