केंद्रीय अर्थमंत्री निर्मला सीतारामन यांच्याकडून सार्वजनिक...

By GT24x7 Reporter · 18 August 2026 · GlobalToday24x7

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman announced on August 18, 2026, that all Public Sector Banks (PSBs) will launch a dedicated, month-long national campaign titled ‘Banking for Youth’ starting October 2. Delivering the valedictory address at the conclusion of the two-day Public Sector Banks Conference in New Delhi, the Finance Minister highlighted that the primary objective of this nationwide initiative is to integrate the country's youth directly into the formal financial system, providing them with essential financial literacy, mentorship, and structured banking guidance as they embark on their economic and professional journeys.

The campaign’s primary target demographic comprises young individuals and professionals aged 16 years and above. Minister Sitharaman emphasized that the initiative will serve as an interactive, continuous engagement platform for young consumers, simplifying their daily banking operations while laying down a supportive foundation for their future entrepreneurial ambitions, startup ventures, and career growth. By bridging the gap between traditional banking institutions and the younger generation, the government aims to foster long-term financial discipline, investment habits, and economic independence across urban and rural regions.

Harnessing Youth Tech-Savviness and Formal Credit Awareness

Underlining the pivotal role young adults play in India's modern digital economy, Minister Sitharaman pointed out that approximately 66 percent of all transactions executed through the Unified Payments Interface (UPI) are conducted by individuals in the 18 to 29 age group. She remarked that today's youth are exceptionally tech-savvy, making it imperative for traditional public sector banking institutions to modernize rapidly, adapt their digital service delivery, and align their customer service operations with the high expectations of younger demographics.

Furthermore, the Finance Minister directed public sector banks to actively focus on building structured awareness regarding the formal credit ecosystem among young citizens, enabling them to avoid unorganized lending traps. Over the course of the two-day summit, leaders from PSBs and public financial institutions deliberated on strategic banking priorities, emerging financial technologies, digital inclusion, and the rapidly evolving landscape of the Indian banking sector.