New Delhi, Aug 18 (PTI) Finance Minister Nirmala Sitharaman on Tuesday asked public sector banks to keep pace with youth’s expectations of simple, intuitive, personalised and round-the-clock banking.
Speaking at the PSB Confluence here, she asked public sector banks to launch a month-long ‘Banking for Youth’ campaign commencing October 2, 2026, with particular outreach to citizens above 16 years of age.
The minister said banks should take the campaign directly to youth rather than wait for them to come to branches. Colleges, universities, skill-building institutions and other campuses can become important touchpoints for the campaign through account-opening initiatives, financial awareness and direct interaction, she added.
Each of the 12 PSBs should develop its own strategy to attract and engage youth, based on its product offering, regional presence and institutional strengths, she said, adding the larger objective should be to build a long-term banking relationship from “campus to career and beyond”, rather than a one-time account-opening engagement.
“Public Sector Banks must be the first and most trusted choice of young Indians, whether they are opening their first account, receiving their first salary, pursuing higher education, starting an enterprise or making their first investment. You should be a part of their lives,” she said.
The minister said banks could offer free online learning content in collaboration with reputed educational platforms and institutions, using learning and skill development as an avenue to engage youth and bring them into the formal banking fold.
She suggested that banks should complement their propositions with lifestyle-linked benefits, including coupons/vouchers for fitness centres, yoga centres and credible mental wellness platforms.
Sitharaman suggested setting up of dedicated youth banking spaces such as ‘Yuva Kiosks’ or Yuva Banking Mitra at physical bank branches, where a dedicated employee could help the youth navigate their financial journey.
“Equal emphasis should be given to building awareness of the formal credit ecosystem, including credit scores, various bank credit products, and government credit schemes. This will enable youth to easily access finance for their future entrepreneurial journey,” Sitharaman said.
Also, she nudged banks to sensitise youth about the importance of maintaining good credit scores and history for responsible credit discipline.
Sitharaman also suggested that Indian Banks Association (IBA) could explore launching a portal dedicated to banking awareness for youth.
The portal could act as a single point where young people can understand banking services and financial opportunities suited to their needs and connect with the appropriate banking services. PTI DP JD ANU ANU
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