PSB Manthan 2025 Charts Roadmap for Global Competitiveness of Public Sector Banks

The Department of Financial Services (DFS), Ministry of Finance, successfully concluded PSB Manthan 2025—a two-day conclave held in Gurugram, Haryana—bringing together the leadership of Public Sector Banks (PSBs), regulators, policymakers, industry veterans, academicians, and technology experts. The programme served as a strategic platform to deliberate on the evolving role of PSBs in India’s economic transformation and their journey towards global competitiveness under the vision of Viksit Bharat 2047.

A Gathering of Eminent Voices

The conference was chaired by the Secretary, DFS, who set the tone by stressing that PSBs have overcome the challenges of survival and stability, and are now well-positioned to become champions of growth, innovation, and sectoral leadership. Distinguished speakers included:

• Shri Swaminathan J., Deputy Governor, Reserve Bank of India

• Dr. V. Anantha Nageswaran, Chief Economic Adviser to the Government of India

• Shri M. Damodaran, Former Chairman, SEBI

• Shri Debasish Panda, Former Chairman, IRDAI

• Former RBI Deputy Governors: Shri R. Gandhi, Shri N. S. Vishwanathan, and Shri M. K. Jain

• Former SBI Chairmen: Shri Rajnish Kumar and Shri Dinesh Kumar Khara

Several other luminaries from the financial sector, technology industry, and academia enriched the dialogue with their expertise and vision.

Key Themes and Deliberations

The programme featured seven panel discussions, three expert sessions, a fireside chat, and open house interactions, covering a wide range of issues central to the transformation of PSBs.

1. Customer Experience & Service Delivery Participants emphasised the need to reimagine customer journeys in the digital era by simplifying processes, ensuring timely grievance redressal, and offering seamless, hyper-personalised services tailored to diverse needs.

2. Governance and Operational Resilience Robust governance frameworks were seen as essential for PSBs aspiring to global standing. Discussions focused on strengthening board oversight, risk management, and compliance to align with international best practices.

3. Technology and Digital Transformation A major thrust was placed on modernising PSB technology. Experts urged banks to move away from legacy systems towards agile, interoperable platforms that ensure cyber resilience and integrate with India’s Digital Public Infrastructure. There was strong emphasis on adopting next-generation technologies such as AI, with safeguards through robust model risk management and governance frameworks.

4. Innovation and Collaboration Deliberations highlighted the importance of collaboration with fintechs, start-ups, academia, and global institutions. Such partnerships, participants noted, can help PSBs accelerate innovation, avoid vendor lock-in, and create shared utilities for the sector.

5. Credit Growth and National Priorities Leaders underscored PSBs’ continued responsibility in sectors such as agriculture, MSMEs, housing, and infrastructure, while also urging them to play an enabling role in sunrise industries like renewable energy, electric mobility, green hydrogen, semiconductors, shipbuilding, and digital technologies.

6. Workforce Readiness Speakers called for continuous HR training and capacity-building to prepare employees for rapid technological shifts. They stressed that digital adoption must go beyond replicating traditional processes, instead reimagining service delivery for efficiency, inclusiveness, and trust.

Open House Insights

Interactive sessions with PSB leaders enabled candid exchanges on governance challenges, technology adoption hurdles, and future concerns around customer trust and satisfaction. These sessions fostered collective problem-solving and generated actionable pathways for the sector’s future.

Outcome and Way Forward

The biggest achievement of PSB Manthan 2025 was the emergence of a shared sense of direction for the future of Indian public sector banking. The event outlined near-term priorities—governance, customer service, technology modernisation, and credit delivery—while also laying out a long-term roadmap for PSBs to evolve into globally competitive institutions.

The conference reaffirmed that Indian PSBs will remain central not just to financial inclusion but also to national development priorities. As India pursues the vision of Viksit Bharat 2047, PSBs are expected to stand alongside the world’s leading financial institutions—championing growth, innovation, and sustainability both at home and abroad.