Many districts lack banking presence despite high level of economic activities: FM
PTI, Sep 26, 2021, 1:11 PM IST
Mumbai: Union Finance Minister Nirmala Sitharaman on Sunday said many districts in the country lack banking presence despite high level of economic activity taking place in those areas.
Addressing banking industry lobby grouping Indian Banks’ Association (IBA), Sitharaman asked lenders to augment efforts of deepening presence.
Giving the lenders the option to decide which place requires banking presence through a brick-and-mortar model and where a step-down presence would help, Sitharaman made it clear that she is not against digitalisation and efforts.
She said the banks’ books are much cleaner now and this will help the government as the recapitalisation requirements go down. The finance minister also said the upcoming National Asset Reconstruction Company should not be called a ”bad bank” as it is called in the US. Banks need to be nimble and understand every unit’s need to achieve the USD 400 billion exports target, she said.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Youth detained for Facebook threat to BJP MLA in Nashik
NE’s integration with rest of India happened under Modi govt: BJP chief Nadda
Congress spokesperson booked for alleged hate speech
Mamata Banerjee responsible for Murshidabad violence: BJP
HC directs implementation of measures suggested by expert panel to improve medical services in Delhi
MUST WATCH
Latest Additions
Youth detained for Facebook threat to BJP MLA in Nashik
NE’s integration with rest of India happened under Modi govt: BJP chief Nadda
Congress spokesperson booked for alleged hate speech
BJP files complaint with EC against Sowmya Reddy, others for alleged violation of poll code
Siddaramaiah slams BJP candidate for visiting house of alleged police recruitment scam kingpin