Finance Minister Arun Jaitley has pitched for more autonomy to state-owned banks.
Jaitley made the comment at a two-day meeting of public sector bankers convened by Prime Minister Narendra Modi’s government to suggest a roadmap for reforms. The meeting ended on Saturday.
“There is a need for far greater autonomy being given to public sector banks with a commercial mindset. He also termed the level of bad assets in the system as unacceptable,” Jaitley said.
The finance minister said there is a need to bring about changes in many areas in state-run banks. He also emphasised that there was a need for the banking sector to fund infrastructure and manufacturing sectors for higher growth.
"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/
Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.