The government is set to soon constitute the proposed High-Level Committee on Banking for Viksit Bharat, with the aim of receiving its report within three to four months and initiating a new phase of comprehensive banking sector reforms. Sources said the terms of reference for the committee are almost ready and the panel will be constituted once the members are finalised. The committee is expected to undertake a fundamental review of the banking sector architecture and recommend measures to strengthen the system in line with India’s long-term growth ambitions.