Mr. Ajay Kumar Srivastava, MD & CEO, Indian Overseas Bank,
“The Union Budget 2026-27 is a clear roadmap for all-round growth, balancing industrial scaling with job creation, and laying a robust foundation for a Viksit Bharat. Anchored in the three ‘Kartavyas’—accelerating growth, building capacity, and ensuring inclusive participation, it reflects a vision that resonates strongly with the banking sector and institutions like Indian Overseas Bank.
With a ₹10,000 crore SME Growth Fund to create ‘Champion MSMEs’ and mandatory use of TReDS for CPSE purchases, the government is providing small businesses with the structural support to scale. This enhances our ability to extend targeted credit and support MSME growth across regions. Initiatives such as ISM 2.0, tax incentives for Data Centres and cloud services, and Bharat Vistaar, a multilingual AI platform for agriculture align perfectly with our focus on financing high-tech manufacturing, digital infrastructure, and rural productivity. Credit-linked subsidy programmes for Animal Husbandry and Fisheries, along with Mega Textile Parks, Rare Earth Corridors, and doubled NRI investment limits, provide new avenues for inclusive financing and investment facilitation.
The High-Level Committee on Banking for Viksit Bharat further strengthens institutional efficiency, enabling banks to better support India’s next phase of growth. Overall, this budget is a forward-looking, data-driven plan that empowers us to drive sustainable growth and inclusive development across the country.