Advertisement
Tuesday, Sep 27, 2022
Outlook.com
Outlook.com

PM Modi Exhorts Banks To Support Wealth, Job Creators

Prime Minister Narendra Modi on Thursday exhorted banks to support wealth and job creators, and work proactively to improve the country's balance sheet.

PM Modi Exhorts Banks To Support Wealth, Job Creators
PM Modi Exhorts Banks To Support Wealth, Job Creators
outlookindia.com
2021-11-18T13:56:04+05:30

Addressing bankers at the symposium to ‘Build Synergy for Seamless Credit Flow and Economic Growth', Modi said banks have to now adopt a partnership model to help businesses thrive and move away from the idea of being a loan "approver" to a loan "applicant".


 "Banks have to support wealth creators and job creators... It is time that banks, along with their own balance sheets, help increase the balance sheet of the country," Modi said.


He nudged bankers to offer "customised solutions" to businesses and micro, small and medium enterprises (MSMEs). "Don't wait for customers to come to banks. You have to go to them," he said. Stating that banks have adequate liquidity and non-performing loans are lowest in five years, he said despite the COVID-19 pandemic, the banking sector has remained strong in the first half (April-September) in current fiscal. This has led to an upgrade in sector outlook by international agencies.


 He also said that the recently set up National Asset Reconstruction Co (NARCL) would help resolve Rs 2 lakh crore of stressed assets. "Reforms in last six-seven years have led to banking sector in a strong position today... We have addressed non-performing assets (NPAs) of banks, recapitalised banks, brought bankruptcy laws and strengthened debt recovery tribunal," Modi added.

With PTI inputs.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

More from

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement