‘HIGH LEVEL COMMITTEE ON BANKING FOR VIKSIT BHARAT’ TO ALIGN FINANCIAL SECTOR WITH INDIA’S NEXT PHASE OF GROWTH: UNION BUDGET 2026-27

• High Level Committee on Banking for Viksit Bharat (HLCB-VB) proposed in Union Budget 2026-27 to comprehensively review the financial sector (banks + NBFCs) and align it with India's next phase of growth, while safeguarding financial stability, inclusion and consumer protection.
• Part of a wider Budget package: restructuring of Power Finance Corporation (PFC) and Rural Electrification Corporation (REC), market-making for corporate bonds, municipal bond incentives, and NRI access to listed equities under the Portfolio Investment Scheme (PIS).
• UPSC relevance: GS-III (mobilisation of resources, banking sector reforms, financial inclusion); fertile ground for Prelims one-liners on Budget 2026-27.