Back to Core Banking: FM Nirmala Sitharaman to Banks

Finance Minister Nirmala Sitharaman addressed the RBI’s Central Board of Directors along with Minister of State for Finance Pankaj Chaudhary and RBI Governor Shaktikanta Das at the regular post-Budget meeting in New Delhi on Saturday.

Finance Minister Nirmala Sitharaman said the RBI and the government are appealing to banks to focus on their core banking business of providing deposits and loans.

The Reserve Bank of India (RBI) and the government are asking banks to focus on core banking business of deposits and loans, Finance Minister Nirmala Sitharaman said on Thursday while addressing the media after a meeting with the RBI’s Central Board of Directors.

She also added that interest rates on deposits and loans have been liberalised and banks have the freedom to set rates depending on their activities.

Mohammed Haris

Haris is the Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. With a decade of experience…Read more