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Sitharaman’s ‘cool’ pitch for banks to win Gen Z

By Sohail Khan 19 August 2026, 9:53 am

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Business News›Industry›Banking/Finance›Banking›Sitharaman asks public sector banks to get ‘cool’ for Gen Z with courses, lifestyle perks

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Sitharaman asks public sector banks to get ‘cool’ for Gen Z with courses, lifestyle perks

Synopsis

Finance Minister Nirmala Sitharaman wants public sector banks to appear more appealing to young customers. She urged banks to engage directly with youth and understand their banking expectations. A month-long 'Banking for Youth' campaign will launch on October 2 for individuals sixteen and older. Banks will offer free online courses and lifestyle benefits to attract younger clients. Dedicated 'Yuva Kiosks' and 'Yuva Banking Mitra' will assist young customers in branches.

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Finance Minister Nirmala Sitharaman wants public sector banks to appear more appealing to young customers

Finance Minister Nirmala Sitharaman wants public sector banks to shed their staid image and be “cool” enough to win over Gen Z, asking lenders to speak directly to young customers and understand what they expect from their banking experience.

At the concluding session of the two-day PSB Confluence on Tuesday, Sitharaman said young people she recently spoke to viewed private sector banks as a preferred choice because they were “cool”.

She urged public sector banks to find out what could change that perception while continuing to maintain the prudential standards expected of banks. “I need public sector banks not to be not cool. You should, please get some young people to talk to you. What makes you appear cool?” Sitharaman said.

The minister suggested taking the campaign beyond bank branches and into colleges, universities, skill-building institutions and other campuses. These could become channels for account opening, financial awareness and direct engagement with young customers.

She also proposed that banks offer free online courses in partnership with reputed education platforms and institutions, using learning and skill development to attract young people to formal banking.

PSBs could also add lifestyle-linked benefits, including coupons and vouchers for fitness and yoga centres and credible mental wellness platforms, she said.

To make physical branches more youth-friendly, Sitharaman suggested dedicated spaces such as ‘Yuva Kiosks’ or ‘Yuva Banking Mitra’, with employees assigned to help young customers navigate their financial needs.

She also called on banks to improve awareness around credit scores, bank credit products and government credit schemes, particularly to help young people seeking finance to start businesses.

Also Read: Finance Minister Nirmala Sitharaman urges PSBs to sharpen youth outreach, build ahead of demand

“Public Sector Banks must be the first and most trusted choice of young Indians,” she said, adding that banks should be part of customers’ journeys from their first account and salary to higher education, entrepreneurship and their first investment.

Sitharaman also suggested that the Indian Banks Association explore a dedicated portal for youth banking awareness, bringing information on financial services and opportunities together in one place.

With India among the world's youngest populations, young consumers are expected to increasingly influence the country's consumption, savings, investment, entrepreneurship and wealth creation patterns, she said.

(With inputs from PTI)

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