30, September 2025

Role of Banking Sector in Attaining the Vision of Viksit Bharat 2047

VOLUME-8; ISSUE-9; SEPT-2025

Author(s): 1. Dr. Atul Kumar Paul, 2. Atul Doley, 3.Dr. Paban Dhar, 4.Lakhyayati Borah

Authors Affiliations:

1Assistant Professor, Dept. of Commerce, Karimganj College, Karimganj, Assam,India

2Assistant Professor, Dept. of Commerce, Karimganj College, Karimganj, Assam,India

3Assistant Professor, Dept. of Mathematics, Karimganj College, Karimganj, Assam, India

4Assistant Professor, Dept. of Mathematics, Karimganj College, Karimganj, Assam, India

DOIs:10.2018/SS/202509012     |     Paper ID: SS202509012


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The "Viksit Bharat-2047" vision aims to establish a developed, inclusive, and self-sufficient India, with the banking sector playing a crucial role in this endeavor. The focus is on evaluating how effectively both public and private sector banks contribute to this vision. Public sector banks promote financial inclusion by actively participating in rural communities and supporting social programs such as Jan Dhan Yojana, PMAY, and PMFBY. These initiatives help connect urban and rural areas and stimulate economic development at the grassroots level. Through digital innovation, improved service availability in underdeveloped areas, and support of MSMEs and sustainable projects, private sector banks enhance these efforts. As seen by HDFC's rapid growth in deposits and loans, ICICI's increase in investments, and Bank of Baroda's profitability, the combined capabilities of public and private banks provide a strong financial environment that is essential for further economic growth.

To realize this vision, important suggestions involve increasing the presence of public banks in rural regions, promoting digital advancements in private banks, supporting sustainable projects, and improving financial literacy to increase trust and engagement. The sector will be more stable if public and private banks work together, offer innovative deposit choices, and use a variety of capital-raising strategies. These strategies will enable India’s banking industry to promote economic inclusion, stability, and environmental sustainability, forming the foundation of a prosperous and forward-looking economy by 2047.
Viksit Bharat-2047,Public Bank, Private Bank, CAGR

Dr. Atul Kumar Paul, Atul Doley, Dr. Paban Dhar, Lakhyayati Borah (2025); Role of Banking Sector in Attaining the Vision of Viksit Bharat 2047, Shikshan Sanshodhan : Journal of Arts, Humanities and Social Sciences,      ISSN(o): 2581-6241,  Volume – 8,   Issue –  9.,  Pp. 73-80.      Available on –   https://shikshansanshodhan.researchculturesociety.org/

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