Union Finance Minister Nirmala Sitharaman said a big thing about the banking system on Monday. Keeping in mind the needs of the customers, he talked about making the banking system more simple.
Union Finance Minister Nirmala Sitharaman said a big thing about the banking system on Monday. Keeping in mind the needs of the customers, he talked about making the banking system more simple. He said on Monday that banks need to focus on the convenience of the customers so that the process can be made easier for the borrowers.
Suggestion for giving loan without any problem
During this, the Finance Minister also made it clear that banks should not lax in the standards of lending loans to customers. In a meeting between industry representatives and the Finance Minister, a startup founder related to the bank business suggested giving loans without any problems.
On this, SBI Chairman Dinesh Kumar Khara said that the concern of the startup is about more equity. He assured to give loan if there is sufficient equity. Later, he also referred to the Government’s Credit Guarantee Fund Trust for Micro and Small Enterprises. To this, Sitharaman said that the woman asking the question is running a new type of enterprise.
Customer needs to be taken care of
He gave some suggestions for the bank community and also talked about their stand. The Finance Minister said, ‘Banks need to become more and more customer friendly. But it should not be to the extent of taking adverse risks. You don’t need to take it. But you need to keep in mind the convenience of the customers and be more and more friendly.
Khara said that the process of digitization is increasing in the bank and the whole process is being digitized. This will make things easier. He said that the bank will be completely digital in the next two months. Given the reliable cash flow, the growth of credit to small business sectors can reach the personal loan figure.
Revenue Secretary Tarun Bajaj, who has also worked in the Department of Financial Services, said banks need to be aware of the need to lend more and support economic growth. He said that the books of the companies are in better condition now.
