The Union Finance Minister, Shri Arun Jaitley addresses the Chief Executives of Public Sector Banks (PSBs) at the Annual Review Meeting of PSBs; Exhorts the banks to ensure all steps at their end to ensure clean lending and effective action in cases of fraud and wilful default, to justify the trust reposed in banks; Banks must strive to be seen always as institutions of clean and prudent lending

The Union Finance Minister, Shri Arun Jaitley addresses the Chief Executives of Public Sector Banks (PSBs) at the Annual Review Meeting of PSBs; Exhorts the banks to ensure all steps at their end to ensure clean lending and effective action in cases of fraud and wilful default, to justify the trust reposed in banks; Banks must strive to be seen always as institutions of clean and prudent lending https://www.taxtmi.com/news?id=20544 Banks must prioritise clean and prudent lending, take effective action against fraud and wilful default, and restore public trust. Reforms including the Insolvency and Bankruptcy Code have improved assessment of financial capacity and spurred recovery and resolution; amendment to exclude wilful defaulters has prompted some borrowers to seek resolution. The Debts Recovery Tribunal mechanism requires review and acceleration to shorten disposal times. Public Sector Banks retain a development and financial inclusion role amid inadequate non-retail support from other lenders, and recent anti-corruption amendments reduce banker apprehension about supporting justified investments. en-us Tue, 25 Sep 2018 17:10:21 +0530 Tue, 25 Sep 2018 17:10:21 +0530 TaxTMI RSS Generator The Union Finance Minister, Shri Arun Jaitley addresses the Chief Executives of Public Sector Banks (PSBs) at the Annual Review Meeting of PSBs; Exhorts the banks to ensure all steps at their end to ensure clean lending and effective action in cases of fraud and wilful default, to justify the trust reposed in banks; Banks must strive to be seen always as institutions of clean and prudent lending https://www.taxtmi.com/news?id=20544 Banks must prioritise clean and prudent lending, take effective action against fraud and wilful default, and restore public trust. Reforms including the Insolvency and Bankruptcy Code have improved assessment of financial capacity and spurred recovery and resolution; amendment to exclude wilful defaulters has prompted some borrowers to seek resolution. The Debts Recovery Tribunal mechanism requires review and acceleration to shorten disposal times. Public Sector Banks retain a development and financial inclusion role amid inadequate non-retail support from other lenders, and recent anti-corruption amendments reduce banker apprehension about supporting justified investments. News - Tue, 25 Sep 2018 17:10:21 +0530 https://www.taxtmi.com/news?id=20544