New bank licences key to Viksit Bharat: DFS secy

TO MEETTHE ambitious goals of Viksit Bharat by 2047, India will need more banks and more types of banks, Department of Financial Services Secretary (DFS) M Nagaraju said at the SBI Banking and Economics Conclave on Thursday.

- FE BUREAU

“Most of the credit uptake should be happening through digital (by 20477) but even then, wewill be requiring new banks thatactually meet the needs of different segments, different industries and populations,’he said. Non-banking financial companies (NBFCs) and small finance banks (SFBs) are likely candidate