India, May 3 -- Financial Services Secretary M Nagaraju on Friday said the High-Level Committee on Banking for Viksit Bharat will look into public sector banks' balance sheet constraints to leverage their capital. The Government is likely to announce the terms of reference for the panel.

"This committee is expected to review the banking sector with a focus on making it more effective, more inclusive, and better aligned with India's growth needs, while maintaining financial stability," he said at the ICPP Growth Conference here.

"We will also likely examine intermediation cost, balance sheet constraints in banks and areas where regulators and institutions can improve the flow of credit," he added.

Finance Minister Nirmala Sitharaman had...