Indian banks need new strategies to attract depositors despite the current level of low-cost deposits being comfortable. Financial services secretary Vivek Joshi highlighted that CASA deposits, which were at 41% of total deposits, have seen a decrease from 45% in previous years. Joshi confirmed the government's ongoing plan to privatize two state-run banks and one general insurer. Although state-owned insurers showed improvements, further capital support is deferred. The government is also working on in-house credit assessment capabilities for MSMEs by PSBs and exploring a new credit model. Additionally, the budget includes a 3% interest subvention on education loans of up to ₹10 lakh, benefitting 100,000 students annually.