Next Phase of Jan Dhan Yojana to Mobilize Financial Savings
Friday, March 13, 2015
After reviewing the quarterly performance of PSBs, Jaitely said banks should take commercial decisions without fear or favour as the government is committed to provide them financial autonomy, both in letter and spirit. In a statement, the finance ministry said the focus of the quarterly review was to go through the performance of banks and understand their challenges and constraints.
The review meet was attended by heads of all PSBs and state-run financial institutions. The ministry also held discussions with PSBs on the Reserve Bank of India’s move to lower key interest rates, while making a case for higher lending towards the housing sector.
“With regard to cut in base rate by banks, let’s wait and see how that plays out. We have a very competitive financial services industry and once certain banks start to take action, we will see how it unfolds,” said minister of state for finance Jayant Sinha.
Source: The Economic Times (link opens in a new window)