Finance Minister Nirmala Sitharaman stated today that collectively all banks are performing well, they have come out of Prompt Corrective Action. They are showing clear profits. Banks have shown that now they can raise money for their capital requirements. She noted that from inputs given by officers from Tax administration, it emerged that Banks need to understand the special requirements of Sunrise sector. e.g. Fintech, one such sector can provide technological help to banks as well as can benefit from help from banking sector. Banks can play a crucial role by hand-holding industries from a particular sector to enable them to become an exporter and thereby play an important role in assisting One district one Product scheme suggested by Prime Minister.
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