Union Finance Minister Nirmala Sitharaman on Tuesday travelled aboard a Vande Bharat train from New Delhi to Jaipur, where she is scheduled to participate in the BRICS Finance Ministers and Central Bank Governors (FMCBG) meetings on Aug. 12 and 13.
During the journey, Sitharaman interacted with fellow passengers, including several women who engaged with the Finance Minister in a cordial atmosphere and later posed for photographs with her, according to the Ministry of Finance.
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The informal interaction came ahead of the government's planned focus on strengthening the public sector banking ecosystem.
The Department of Financial Services (DFS), under the Ministry of Finance, is set to organise a two-day PSB Confluence in New Delhi on Aug. 17-18, bringing together the leadership of public sector banks (PSBs) and public financial institutions (PFIs).
Sitharaman, along with Minister of State for Finance Pankaj Chaudhary, will address the conclave, which is aimed at facilitating discussions on key issues facing the banking sector and identifying practical, time-bound measures that can improve people-centric outcomes.
The conclave will bring together around 125 participants, including chairpersons, managing directors and executive directors of PSBs, along with senior representatives of institutions such as NABARD, EXIM Bank, SIDBI, National Housing Bank, IIFCL, IFCI and NaBFID.
Discussions will be organised across several thematic tracks, including deposit mobilisation, banking for youth, supporting the investment cycle, facilitating Global Capability Centres, agriculture and horticulture value-chain infrastructure, reimagining the credit card business and priority sector lending.
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According to the DFS, the discussions are intended to move beyond sharing ideas and focus on actionable initiatives that can be adopted across the banking ecosystem.
Key areas include expanding the resource base for affordable credit, supporting infrastructure investment, strengthening rural value chains, improving market linkages and expanding formal credit access to underserved sections.
The conclave will also examine banking products and services tailored to younger customers and ways to strengthen financial institutions' role in supporting India's broader economic and investment cycle.
The government said the themes have been selected for their potential to translate policy and institutional interventions into measurable outcomes for citizens and inclusive economic growth.
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