The PSB Alliance Annual Strategy Meet 2026 was held in New Delhi on Monday, 2 February 2026, where the Secretary, Department of Financial Services (DFS) delivered the keynote address, underscoring the transformation of the PSB Alliance into a strategic partner for India’s public sector banking ecosystem. The address emphasised the convergence of technology, data, and purpose to build an inclusive, efficient, and innovative banking sector.
PSB Alliance’s Evolving Strategic Role
In the keynote, the Secretary, DFS highlighted how PSB Alliance has moved beyond operational coordination to become a value-creating strategic enabler for public sector banks. The Alliance’s initiatives were noted for their positive contribution to banks’ Net Interest Margin (NIM) and Cost-to-Income Ratio, reflecting improved efficiency and financial performance through shared services and digital platforms.
Launch of BAANKNET Mobile App and DBCP
A key highlight of the event was the launch of two major digital initiatives by the Secretary, DFS:
-
BAANKNET (Bank Assets Auction Network) Mobile App
-
Digital Balance Confirmation Platform (DBCP)
It was noted that while BAANKNET has already introduced structure, transparency, and credibility in bank property auctions, the new mobile app will make verified bank-owned properties accessible nationwide and on the go. This is expected to empower common citizens, broaden participation in auctions, and enable faster recoveries for banks.
Streamlining Audits Through DBCP
The DBCP was described as a significant step towards greater efficiency and transparency in the audit process. By digitising balance confirmations, the platform aims to reduce turnaround time, minimise errors, and eventually eliminate manual balance confirmation certificates, marking a major leap in audit modernisation.
Expanding the Shared Services Ecosystem
The Secretary, DFS advised PSB Alliance to expand its shared service ecosystem beyond public sector banks, suggesting collaboration with a wider set of financial institutions to unlock scale efficiencies, improve service delivery, and accelerate sector-wide digital adoption.
Call for Inclusive Credit Strategies
Emphasising the social responsibility of the banking sector, the Secretary highlighted the need for inclusive credit strategies that support MSMEs, small borrowers, and underserved segments, ensuring that technology-led efficiency gains translate into broad-based access to finance.
Conclusion
The PSB Alliance Annual Strategy Meet 2026 reaffirmed the Government’s focus on technology-led, collaborative banking reforms. With the launch of BAANKNET’s mobile app and the Digital Balance Confirmation Platform, and a renewed emphasis on inclusive credit and shared services, the PSB Alliance is set to play a pivotal role in strengthening transparency, efficiency, and accessibility across India’s banking system.
For more real-time updates, visit Channel 6 Network.
Source: PIB
