Public-sector banks (PSBs) are preparing to use the Ministry of Youth Affairs and Sports’ MY Bharat portal to provide internships and training to young people, while creating a potential pipeline for entry-level recruitment. The move comes after Finance Minister Nirmala Sitharaman urged PSBs to become more youth-friendly and attract the next generation of banking customers. Under the month-long ‘Banking for Youth’ initiative beginning October 2, banks plan to expand youth outreach through financial literacy, digital banking programmes, internships and entry-level employment opportunities. Young people registered on the MY Bharat portal could receive training through internships under the Prime Minister Internship Scheme and may subsequently be considered for entry-level positions in public-sector banks. The initiative could also measure the number of youth trained and the proportion later recruited by participating banks. Alongside employment opportunities, PSBs will focus on acquiring young customers and building long-term relationships through programmes at colleges, universities and skill-development institutions. Financial literacy and digital banking modules will seek to address concerns about the safe use of digital financial services. Sitharaman has also suggested dedicated ‘Yuva Kiosks’ or ‘Yuva Banking Mitra’ at branches to assist young customers with banking and credit products. The broader strategy aims to reposition PSBs beyond their traditional government-bank image and build relationships with customers across key stages of their financial lives, from education and employment to entrepreneurship, home ownership, investment and wealth creation.
PSBs to Use MY Bharat Portal for Internships, Financial Literacy and Hiring
