Addressing the gathering, Sitharaman highlighted the evolving role of banks in a rapidly transforming financial landscape. She stated that while institutions are expanding in scale and adopting advanced technologies, maintaining strong and direct connections with customers remains essential. She noted that digital banking and artificial intelligence are reshaping the sector but cautioned that human interaction and emotional understanding must not be compromised.
Focusing on the broader economic outlook, Sitharaman said that the strength of the Indian economy lies in its large domestic market driven by robust consumption. She acknowledged the importance of exports in generating value and revenue but pointed out that ongoing global challenges have adversely affected export performance. Despite these constraints, she commended Indian exporters for identifying alternative markets and sustaining their operations.
The Finance Minister further emphasised that long-term economic growth depends on continuous support to critical sectors, including agriculture, manufacturing, services, tourism, and information technology. She underlined that banks play a crucial role in this process by ensuring financial stability and providing necessary funding support across these sectors.
Referring to the national vision of “Developed India 2047,” Sitharaman stated that the banking system must adapt to future demands and emerging challenges. She announced the formation of a committee that will guide reforms and ensure preparedness within the banking sector to meet long-term developmental goals.
The inauguration of the regional office in Maharashtra reflects a broader push to strengthen institutional capacity while reinforcing the connection between financial systems and grassroots economic needs,
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