New Delhi: Prime Minister Narendra Modi made a strong pitch for the bank managed by the state on Thursday to lend “build balance the state”, said the time has come to support the wealth and job creators.
“Today is the strength of the country’s banks have increased so much that they can give you new energy and a huge boost to the economy and play an important role in making Atmanirbhar Bharat reality,” said Modi told bankers at a conference.
“The demand of the times is that the country’s banks have to think about improving the balance sheet proactively country along with improving their balance sheets,” said the PM, adding that the current phase is a major milestone for the banking sector and a major starting point.
Comments PM is seen as a major outreach to the banks that the government managed to lend and assist in the economic recovery.
Some indicators have pointed to a strong recovery and the government is making all-out efforts to ensure that investments start to kick in and help accelerate growth.
Over the past few days, the center has reached state and industry in an effort to boost investment and spur growth.
Finance Minister Nirmala Sitharaman first met CMS State and then India Inc.
In a speech on Thursday, PM encourage bankers to offer customized solutions to its customers.
“Do not wait for customers to come to your bank.
Go to them.
You have to analyze the needs of customers, enterprises, SMEs, and offers customized solutions,” he said and explained that there should be a change in mindset and a business as usual approach must be shed.
“I was the recipient and the person across the table is the applicant, my lender and the person in front looking approach must be removed by a bank loan, and they should adopt the model of partnership,” the prime minister said, highlighting the need to increase efforts to boost lending and has a customer- approach centric.
He advised the banks to reach the company, which will be part of the defense corridor, beneficiaries of the PLI scheme and those in the infrastructure sector.
He said banks should set a target at the branch level to ensure that they will join hands with a young 10 or 10 small companies to help them in their business.
Arguing that a strong foundation has been laid for the economy to jump, the PM said that the banking sector needs to rise after a series of measures to improve their financial health.
“Because of this decision that resolution and better recovery and banks are in a stronger position and find the inherent strength …
today the NPA in the public sector banks are at their lowest level in five years despite Covid.
The strength of the banking sector during the first half has been everyone’s attention and that is why international institutions that have improved the outlook of Indian banks.
“Pointing to several initiatives such as GST, Jan.
Dhan, Swanidhi and Swamitya, he said the bank has a lot of data with them should they tap to accelerate the loan.
PM urges banks to move at least 100 major clients in every branch of the fully digital transaction on August 15 next year.
Support ‘Wealth, Work Creator’: PM to the Bank
