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BANKS MUST FOCUS ON THEIR CORE BUSINESS: FM
August 11, 2024
|The Sunday Guardian
Union Finance Minister Nirmala Sitharaman, again asked the banks to focus on their core business and come with innovative products to increase deposits.
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Addressing a press conference following a customary post budget meeting with the Central Board of Directors of the Reserve Bank of India (RBI), the Finance Minister stated, “The Reserve Bank and the Government are repeatedly telling the banks to pay attention to their core business activities. It is not that they are not paying attention, but collect deposits and lend with more strictness as this is the core business of banking. Later you can add some new activity if there is a mismatch between deposits and lending, and the wheel of deposit is being slowed down and lending is increasing fast.”
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