More big banks needed to meet India’s needs, says finance minister

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 63%

Ireland News News

Four or five banks ‘are needed to meet economic requirements’

Indian finance minister Nirmala Sitharaman. Picture: BLOOMBERG/T NARAYAN

“The economy is shifting to a different plane altogether,” Sitharaman said. “Even before the pandemic the driving force for amalgamation [of banks] was that India needs a lot more banks, but a lot more big banks.”She did not give details, but the government has been consolidating state-run banks to combat the pandemic slowdown and create bigger and stronger banks while it also looks to sell its stakes in, and privatise, at least two state-run banks.

“You cannot any more be in digital silos,” she said. “All of your systems should be speaking to one another.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Industrialise, says Finance Minister Godogwana | CitypressEconomists agree that SA needs to re-evaluate its policy on reviving ailing manufacturing industry as other sectors yield low employment numbers no matter their high GDP outputs. My first experience happens to be a failure but i never gave up cause i knew it was going to work out for me trying continuously, fortunately i'm smiling today by getting involved with peternice_ It will end there just a talk nothing more.. Rich coming from Chair of Transformation Committee. The financial institutions he is marshalling are the biggest problem
Source: City_Press - 🏆 7. / 72 Read more »

Finance minister Enoch Godongwana to address Sunday Times investment dialogue webinarSA finance minister Enoch Godongwana will deliver the keynote address at a webinar involving some of SA's top thinkers and business leaders on September 30. Top thinkers some people are special.
Source: TimesLIVE - 🏆 28. / 59 Read more »