Finance minister Nirmala Sitharaman Meets Bankers: Banking for Gen Z and Deposit Mobilisation in Focus
Union Finance Minister Nirmala Sitharaman held discussions with senior bankers to review key priorities for the banking sector, with a particular focus on strengthening deposit mobilisation and making banking services more relevant and accessible to Generation Z.
The meeting underlined the need for banks to adapt their products, services and digital interfaces to the evolving financial behaviour of younger customers. Greater emphasis is expected on technology-enabled banking, customer-centric services, financial awareness and innovative products that can encourage responsible saving and participation in the formal financial system.
Deposit mobilisation remained an important area of discussion amid the need to maintain a healthy balance between deposits and credit growth. Banks were encouraged to strengthen their strategies for attracting and retaining deposits while ensuring competitive, transparent and customer-friendly financial services.
The discussions also highlighted the importance of leveraging digital technologies to improve service delivery and enhance the overall customer experience. As young and digitally connected customers increasingly engage with financial services through mobile and online platforms, banks need to ensure secure, convenient and efficient digital banking ecosystems.
The government’s engagement with the banking sector reflects its broader objective of strengthening financial stability, promoting financial inclusion and supporting sustainable economic growth. A responsive banking system, supported by robust deposit mobilisation and technology-driven services, can play a significant role in meeting the financial needs of emerging consumer segments, including Gen Z.
Overall, the meeting emphasised the importance of innovation, customer-centricity and sound deposit management in building a resilient and future-ready banking sector.
