Arun Jaitley: Banks must work towards supporting India growth story
The banking sector should take it as an opportunity for not only its own growth but also make deeper impact on India’s growth story, said Jaitley
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Scheduled banks' April-June performance remain sluggish Finance Minister Arun Jaitley, on Thursday, called for more support from the banking sector towards the growth of the country.
He said, "Banks in India need to give top priority to support the growth possibilities in the country. The sector has, no doubt performed very well in the context of a non-supportive global economic environment, but it needs to show more progress in the coming year."
Speaking at the 69th AGM of Indian Bank Association (IBA) in Mumbai, Jaitley said that the government was making all possible efforts to boost economic growth along with social security in an unprecedented manner through the enactments of various enabling legislation and institutional cum administrative reforms.
Jaitley said that the world now looks at India a country with a hugely positive outlook. The banking sector should take it as an opportunity for not only its own growth but also make deeper impact on India’s growth story.
He said that the deeper participation of banks is necessary to ensure that process of socio economic growth gets a bigger push in both public and private sector.
Banks' masala bonds will take care of their huge capital needs