(PTI)
Finance minister Arun Jaitley on Saturday said the resilience of the country’s banking system is under test and banks must restore their credibility and work for the society as taxpayers are making sacrifices to keep them afloat.
Jaitley said it is taxpayers’ money which is being infused into the ailing banking system and now the responsibility is on the sector to improve health to help in pushing towards a robust economy. The minister, while addressing UCO Bank’s Platinum Jubilee event in New Delhi, said “the resilience of the banking system is under test”, with the sector facing severe challenges.
“It is extremely important for everyone, the government to do its own bit, Parliament to support the government in doing that job, the employees and management of banks to ensure that we restore the most important asset of the bank that is credibility. And that holds true to the banking system across the country,” Jaitley said.
He further said that it is very important for the economy to keep the banks in good health. “The lending that the banks do is an indication how the growth will move. The last few data which came up have shown that credit growth has moved up. And once this infusion of the capital into the banks takes place, the credit growth will further move up,” Jaitley said.
