Finance, banking and fintech executives said Union Budget 2026 reinforced policy continuity and reform momentum, with proposed banking reviews, regulatory simplification and technology investments expected to shape credit growth and financial inclusion in the coming years.
Reacting to Union Finance Minister Nirmala Sitharaman budget speech, industry leaders pointed to the government’s proposal to set up a high-level committee on banking as a signal that government intend to recalibrate the financial system for the next phase of economic expansion under the “Viksit Bharat” framework.
“Making India’s financial sector future-ready is central to achieving the vision of ‘Viksit Bharat’,” said Ankur Bansal, managing director, BlackSoil. He said the proposed committee reflected “a timely effort to align the sector with India’s next phase of growth, while safeguarding stability and inclusion”.
Bansal also cited recent steps by the Reserve Bank of India (RBI) to simplify regulatory compliance, which he said could support responsible credit expansion. “Alongside the RBI’s move to simplify regulatory compliance, these reforms create a stronger foundation for responsible credit expansion,” he said.
Executives from non-banking financial companies (NBFCs) said regulatory clarity remains critical as non-bank credit providers play a larger role in financing fast-growing enterprises.
“For lenders and alternative credit providers, a clearer, more efficient regulatory framework is critical to scaling capital to high-growth enterprises and strengthening India’s credit ecosystem,” Bansal added.
Fintech firms focused on consumer finance said the Budget signalled a shift in emphasis from access to outcomes. Jitin Bhasin, founder and CEO of SaveIN, said the proposed banking committee could help address gaps in consumer protection and technology adoption.
“With 98% of villages already covered, focusing on reforms, financial inclusion, consumer protection, and technology adoption will help the sector support the next phase of India’s growth,” Bhasin said. “It’s time to transition from financial inclusion to financial empowerment.”
Echoing the views, technology service providers said the Union Budget 2026 underlined the growing role of digital infrastructure and artificial intelligence in banking.
Union Budget 2026 makes clear, AI and IT services to play a central role
Kishan Sundar, senior vice-president and chief technology officer, Maveric Systems, said policy emphasis on AI and IT services was timely as banks face strong credit demand under tighter funding and regulatory conditions.
“Union Budget 2026 makes it clear that AI and IT services will play a central role in shaping the next phase of India’s banking and financial services growth,” Sundar said.
He added that digital investments could accelerate AI adoption across credit decisioning, risk management, compliance and customer engagement.
“With increasing system complexity and scale, AI-driven automation and data-led decisioning are becoming essential for banks to grow responsibly while improving efficiency and resilience,” he said.
Some industry leaders also linked the Budget’s focus on capital expenditure, MSME support and digital infrastructure to credit market development. Chirag Shah, founder and CEO of Pulse, said the Budget reinforced confidence in a more transparent and data-driven lending environment.
“The Budget sends a clear signal of policy continuity with a strong focus on growth anchored in technology, infrastructure and MSME development,” Shah said, adding that investments in data centres and digital infrastructure would support data-led financial systems as lenders increasingly rely on real-time information to assess risk.
“As lenders increasingly rely on technology and real-time insights to assess risk and expand credit, the availability of reliable financial data will be critical in enabling MSMEs to scale sustainably,” he said.
