Highlighting the robustness of the country’s financial sector during Union Budget 2026-27 presentation in Lok Sabha today, the Finance Minister said, the government has decided to set up High Level Committee on Banking for Viksit Bharat to comprehensively review the banking sector and to safeguarding financial stability, inclusion and consumer protection. She said, the government will take further steps to improve the scale and efficiency of the public sector NBFC.

The Finance Minister said that the government will restructure the Power Finance Corporation and Rural Electrification Corporation. She also said that total return swaps on corporate bonds will be introduced for suitable access to funds and derivatives on corporate bond indices. She said, an incentive of 100 crorerupees for a single bond issuance of more than 1000 crore rupees will be provided to encourage the issuance of municipal bonds of higher value by large cities.