PSBs Urged to Become ‘Cool’ for Gen Z

Finance Minister Nirmala Sitharaman has urged public sector banks (PSBs) to become more youth-friendly and modern to attract Gen Z customers. Speaking at PSB Confluence 2026, she said many young people prefer private banks because they see them as “cool”. She asked PSBs to understand what young customers expect and improve their banking experience.

‘Banking for Youth’ Campaign From October 2

Sitharaman asked PSBs to launch a month-long ‘Banking for Youth’ campaign from October 2 for people aged 16 and above. The campaign will be coordinated by the Indian Banks’ Association (IBA). The initiative will focus on building long-term relationships with young customers as they move from education to jobs, businesses, investments and savings.

Focus on Colleges and Skill Centres

Banks have been encouraged to take the campaign to colleges, universities and skill centres. These platforms can be used to open accounts, promote financial awareness and directly engage with young people.

Sitharaman also suggested offering free online courses through reputed education platforms, along with discounts and vouchers for fitness, yoga and mental wellness services.

PSBs Should Be First Choice for Young Indians

The Finance Minister said banks should help young people understand credit scores, loans and government schemes, particularly those planning to start businesses.

She also suggested that the IBA develop a dedicated website or app offering simple information on banking, education, skill development and entrepreneurship. Sitharaman said public sector banks should aim to become the “first and most trusted choice” for young Indians.