Prime Minister Narendra Modi on Saturday called for the need to establish Indian banks that rank among the Top 10 in the world. Speaking at "Gyan Sangam", a one-of-its-kind bankers retreat, in Pune, PM Modi said the banking sector of a country mirrors its economic rise. Japan and China had banks in the top ten banks of the world during their economic rise, he added.
Experts have called for consolidation of public sector banks in India to create bigger banks. But this has not made any headway despite various reports advocating merger of various small public sector banks. There are 27 public sector banks, including five associates of State Bank of India. Finance Minister Arun Jaitley in his first Budget speech on July had indicated the government intention of consolidation in public sector banks.
The government will never interfere in the internal working of the banks, PM Modi said, adding that banks need to be run professionally, without any interference.
Besides the Prime Minister, Finance Minister Arun Jaitley and RBI Governor Raghuram Rajan also attended the retreat.
PM Modi also called for an end to lazy banking, and asked lenders to take on a proactive role in helping the common man. Top bankers of the country had gathered in Pune to draw up a blueprint for reforms of the banking sector and made presentations to the Prime Minister. It was perhaps the first time that banks had given tasks to the Prime Minister through a presentation, he said.
The Prime Minister also appreciated the efforts of the banks in successfully implementing Pradhan Mantri Jan Dhan Yojana. The Prime Minister said 7 crore families had benefited from direct cash transfers of LPG subsidy in just three days since January 1.
Mr Modi stressed on the huge opportunity banks have in the government's programme to provide housing for all by 2022. As many as 11 crore houses were required, he said.
No comments:
Post a Comment