The Times of India

Budget Speech 2026: FM outlines NBFCs vision, targets credit and tech; PFC, REC to be restructured

Union finance minister Nirmala Sitharaman unveiled the government's Viksit Bharat vision for Non-Banking Financial Companies, setting clear targets for credit expansion and technology adoption. Key public sector NBFCs like Power Finance Corporation and Rural Electrification Corporation will be restructured to boost efficiency. This initiative, alongside a banking sector review, aims to strengthen India's financial system for sustained reform-led growth.