New Delhi, Aug. 20 -- The banking industry, both in India and the world at large, has changed dramatically. And continues to do so each passing day. In the words of American baseball coach Yogi Berra, "The future ain't what it used to be."

So how can India get its banks future-ready? The answer: by drawing up a blueprint for reform. This is best done by entrusting the job to a high-level panel on banking reforms on the lines of the earlier two Narasimham Committees.

Today's financial environment, though, is vastly different. It was in this spirit and in line with her 2026-27 Budget proposals that finance minister Nirmala Sitharaman, speaking at a conclave of public sector banks (PSBs) earlier this week, announced that an expert panel wo...