Friday, April 23, 2021

We are discussing the privatization of banks with the government.

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The rise in corona cases is worrying
The economic recovery continues.
There may not be a lockdown
RBI Governor Shaktikanta Das

Mumbai: RBI Governor Shaktikanta Das has said that the government is discussing the privatization of public sector banks and will take the process forward. He said the RBI was committed to utilizing all policy measures to revive the economy while maintaining price and financial stability. ‘We are discussing with the government about the privatization of public sector banks. We will take this process forward, ”Das told the Times Network India Economic Conclave. At the same time, Das said the rise in corona cases across the country again was worrying, but that the lockdown would not have any impact on the economic recovery.

He said the economic recovery would continue and the RBI would not have to cut its GDP estimate by 10.5 per cent for the next financial year (202122). He emphasized that the decision was not a signal of a formal antitrust inquiry into the allegations, but rather a signal of a formal antitrust inquiry into the allegations. Das expressed concern over the rise in corona cases across the country, saying no one should be afraid of lockdown sanctions again at this time. During the budget on February 1, Sitharaman proposed privatizing two public sector banks and an insurance company. Das said there was a great need for innovation in the financial sector to provide better services and called for measures to promote them.

The RTGS, Neft facility is now available 24 hours a day. RTGS has the capability to transact in various currencies. We are considering whether its scope can be expanded outside India. 274 crore digital transactions have been facilitated. Das said technology and innovation have a major role to play in better serving customers. He explained that 274 crore digital transactions have been facilitated to provide direct transfer benefits to the public, most of which were done during corona. Das said the Reserve Bank had explained to the government its concerns about cryptocurrency and the government would take a decision. He said he did not think there was a difference of opinion between the RBI and the government on cryptocurrency.

Four types of banks in the coming period
Das said there will be four types of banks in India in the near future. RBI Governor Shaktikanta Das said that four types of banks have emerged in India in the current decade. Speaking at the Times Network India Economic Summit, he said some of the big banks would expand nationwide and globally. Second, there are medium-sized banks that have a wider presence in the economy. Apart from these there are small financial banks, regional rural banks and co-operative banks that can cater to the needs of small borrowers. The bank provides another category of digital services. He said there are currently 10 small SFBs and six payment banks operating. Different types of banks are expected to come in the current decade.

RBI discussing bank privatisation issue with govt

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