PSB Alliance Annual Strategy Meet 2026 Highlights Digital Transformation and Inclusive Banking Vision

The Secretary highlighted the Alliance’s growing role in strengthening key financial metrics of banks, particularly its positive contribution to Net Interest Margin (NIM) and improvements in the Cost-to-Income Ratio.

The PSB Alliance Annual Strategy Meet 2026 was held in New Delhi today, marking a renewed focus on technology-driven collaboration and inclusive growth within India’s public sector banking ecosystem.

Addressing the gathering, the Secretary, Department of Financial Services (DFS) underscored the evolution of PSB Alliance from a shared services platform into a strategic partner for public sector banks, driven by the convergence of technology, data and purpose. The Secretary highlighted the Alliance’s growing role in strengthening key financial metrics of banks, particularly its positive contribution to Net Interest Margin (NIM) and improvements in the Cost-to-Income Ratio.

Launch of BAANKNET Mobile App and Digital Balance Confirmation Platform

During the event, the Secretary, DFS formally launched two key digital initiatives:

• BAANKNET (Bank Assets Auction Network) Mobile App

• Digital Balance Confirmation Platform (DBCP)

The BAANKNET mobile application builds on the existing auction portal that has already introduced structure and transparency in bank asset auctions. The mobile version is expected to significantly expand outreach by enabling nationwide, on-the-go access to verified bank auction properties, empowering citizens while supporting banks in achieving faster and more efficient recoveries.

The Digital Balance Confirmation Platform (DBCP) represents a major step forward in audit digitisation. By streamlining and automating balance confirmation processes, the platform aims to enhance efficiency, accuracy and transparency, with the long-term objective of eliminating manual balance confirmation certificates.

Expanding the Shared Services Ecosystem

The Secretary, DFS advised PSB Alliance to expand its shared service ecosystem beyond public sector banks, signalling a broader role for the platform in strengthening India’s overall banking and financial infrastructure.

Emphasising financial inclusion, the Secretary highlighted the need for inclusive credit strategies to address the requirements of the unbanked and underbanked population. It was also suggested that PSB Alliance develop common digital lending solutions for smaller banks, enabling them to reduce overhead costs while improving credit delivery efficiency.

Strengthening Collaborative Banking Reforms

The discussions at the Strategy Meet reinforced the role of PSB Alliance as a central enabler of collaborative banking reforms, leveraging shared digital infrastructure to improve operational efficiency, governance standards and customer-centric service delivery.

As India’s banking sector continues its digital and structural transformation, the initiatives outlined at the PSB Alliance Annual Strategy Meet 2026 are expected to play a critical role in advancing inclusive growth, transparency and resilience across the financial system.