Union Finance Minister Nirmala Sitharaman proposed... ... Union Budget 2026 Live Updates: FM Nirmala Sitharaman presents budget in Lok Sabha

Union Finance Minister Nirmala Sitharaman proposed creating a high-level committee on banking to support Viksit Bharat. This committee will thoroughly review the banking sector.

Additionally, a plan has been put forward to reorganise Power Finance Corporation (PFC) and REC Limited (formerly Rural Electrification Corporation), two major state-owned non-banking financial companies (NBFCs) under the Ministry of Power.