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FM Asks Banks to take Commercial Decisions Without Any Fear or Favour as the Government is Committed to Provide Them Full Financial Autonomy;

Dated:- 11-3-2015 - Reaffirms the Government s Commitment and Efforts to Bring in Greater Professionalism in Governance and Management of Banks; During April 2014 to January 2015, PSBS Received 88 New Projects/ Proposal (with Investment of ₹ 250 Crores) with a Total Investment of ₹ 1.41 Lakh Crores The Union Finance Minister Shri Arun Jaitley asked the Chief Executive Officers (CEOs) of the Public Sector Banks (PSBs) and Financial Institutions (FIs) to take commercial decisions witho .....

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the banks to meet their capital requirements. He said that this would also at the same time facilitate appropriate credit expansion to meet the needs of the productive sectors of the economy so that the momentum of economic growth may be sustained. The Union Finance Minister Shri Arun Jaitley was speaking at the Quarterly Performance Review Meeting with the Chief Executive Officers (CEOs) of the Public Sector Banks (PSBs) and Financial Institutions (FIs) for the quarter ending December, 2014 he .....

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preciated the good work done by PSBs in providing financial inclusion to all households by opening at least one bank account per household under the Pradhan Matri Jan Dhan Yojana (PMJDY). He said that achieving near total financial inclusion in a short period of time has shown that the banking system is capable of delivering the desired output when our energies are focused on the priority area. The Finance Minister expected that the PSBs would show the same resolve in containing the slide in fin .....

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financial literacy and creating universal social security cover for all citizens, especially the poor, under-privileged and workers in un-organised sector. The Finance Minister Shri Jaitley also mentioned about the specific budget announcements made while delivering his Budget Speech 2015-16 to introduce Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and Atal Pension Yojana. The Finance Minister expected that PSBs would play an active role in successful implementati .....

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een satisfactory during 2014-15, it was expected that all efforts would be made to make the agricultural credit available to all the eligible farmers in the country. However, since the share of investment credit in the banks is going down, the PSBs were urged to reverse this trend by increasing the term loans in agriculture. The lending targets for MSE Sector are critical in achieving successful implementation of the Make in India programme. Therefore, credit needs of this sector may be met by t .....

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