Finance minister at RBI meet: banks must use always to collect deposit from core areas
The RBI and MPC meet to deliberate on the central banks monetary policy decisions, including the key interest rate at which it lends to commercial Banks
Finance Minister stated deposits and Lending as the two wins of a card and the deposit is moving slower than the landing. Addressing reporters after the customary post-budget meeting with the central world of the reserve Bank of India in New Delhi.
The finance minister said that she should soon review the performance of the banking sector with regard to various issues, including the implementation of government schemes and the priority sector lending.
RBI, Governor Shaktikanta Das said the banks will soon launch a drive to settle the unclaimed deposits. Even last year, a similar drive was launched where is bank branch depending on the number of unclaimed deposits they had. Protectively. We took steps to settle the top 10 search cases by reaching out to the right person, he said.
The central bank has expressed concern over the deposit in India mismatch in the banking sector and alerted the banks even as the fixing of the both lending and deposit interest rate where the regulated.
Outcome of the drive was satisfactory dasso a dedicated portal and claim made deposit gateway to access information or UDGAM is there for people to check their unlimited deposit and claim the same,Any initiative of the RBI.
The portal facility is the registered users to search unlimited deposits or accounts across multiple banks at one place in a centralised manner. Finance minister also replied on this question about the Bangladesh political development on the Indian economy. Sitharaman said it has caused a bit of uncertainty for Indian garment sector investors and hoped that the interim government of the country would bring normalcy to Soon.
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