RBI's Banyan Vision: Reinventing Public Sector Banks

RBI Deputy Governor Swaminathan J has called for public sector banks (PSBs) to harness shared technology platforms and jointly develop digital infrastructure to benefit from economies of scale and cut costs.

Speaking at the PSB Manthan 2025, Swaminathan emphasized the necessity of sharper tools for boards, including real-time insights into emerging risks. He also underscored the importance of operational resilience and robust technology infrastructure in providing uninterrupted, secure services.

Swaminathan invoked the banyan tree metaphor to convey his vision for PSBs, emphasizing not just their role in providing stability, but also fostering growth and inclusivity for rural enterprises and women entrepreneurs.

(With inputs from agencies.)