Nifty99000 100%

Sensex99000 100%

Article rating: 4.0
Article rating: 3.7
Article rating: 5.0
Article rating: 4.0
Article rating: 4.5
Article rating: 3.8
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating


Banks’ to be under the lens post recapitalisation: Jaitley

Author: IANS/Monday, January 8, 2018/Categories: Banking & Financial Services

Banks’ to be under the lens post recapitalisation: Jaitley

New Delhi, Jan 6 - Finance Minister Arun Jaitley on January 6 said that Indian taxpayers were making a sacrifice to keep the banking system in good health and hence the performance of banks would be under the lens over the next few years.

He said the government's Rs 2.12 lakh crore recapitalisation plan was to keep banks in good health, which was "extremely" important for the economy. 

"The tax payers in India are making a sacrifice to keep the banking system in good health. This money which is being infused could be used in other social purposes. But that is the money being infused into the banking system to make sure that you are kept in good health so that you (banks) are able to improve the credit growth and growth processes in the country," Jaitley said at the 75th anniversary celebration of the UCO Bank.

"The society through tax payers is reviving you. So it is your responsibility to come out with a much faster pace and in much better health so you are able to give a much more robust economy."

"And therefore the next few years, your performance is really on test," he said. 

Jaitley said it was the responsibility of the banks to support and spur growth in India. He added a turnaround in the economy was now visible after various structural changes undertaken by the government which led to a "transient hiatus".

"The lending that the banks do is an indication of how growth will move. The latest data has shown that credit growth has moved up. And once this infusion of capital takes place into the banking system, credit growth will further go up.

"And when that goes up, coupled with the revival of the global commodity prices, one should really visualize a better future from the current challenges," he said.

Print Rate this article:
No rating

Number of views (182)/Comments (0)

Kavita Giridhar Mallya


Other posts by IANS
Contact author

Leave a comment

Add comment



Ask the Finapolis.

I'm not a robot
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest



The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free