Taxpayers made sacrifices; now, its Bank’s turn to strengthen banking & economy: FM

NEW DELHI: Finance Minister Arun Jaitley said on Saturday that Indian taxpayers are now making sacrifice for the good health of the Public Sector Banks (PSBs) and its responsibility of the banks to perform and give back to economy.

Addressing the function organised to mark the occasion of the Platinum Jubilee (75th Anniversary of Foundation Day) of UCO Bank in Delhi, Mr Jaitley said that Government has come out with Rs 2.11 lakh crores recapitalising of PSBs at a cost of taxpayers. They have make sacrifices to make the improvement of the Bank’s health so that the economy could gain better results.

He said that strong banking is essential for the strong economy and now, its bank’s responsibility to perform properly and give momentum to the economy. “Lending by banks impacts how growth will move. Credit growth has increased. With capital infusion, credit growth will further increase,” he said. (AGENCIES)