By Martin Shwenk Leade
Copyright indiatimes
AgenciesFinance Minister Nirmala Sitharaman
Pune: Finance Minister Nirmala Sitharaman said financial institutions must maintain strong balance sheets to fund significant investments in infrastructure, industry and MSME companies, while also creating partnerships with NBFCs to reach credit to the underserved.The minister acknowledged that uncertainties have increased globally with some sectors and countries being impacted more than others.”As India’s economy grows, so does the demand for credit and innovative financial products and capital expenditure,” Sitharaman said in her address at the 91st Foundation Day celebrations at the Bank of Maharashtra.”So, financial institutions like the Bank of Maharashtra, therefore, must maintain strong balance sheets to fund significant investments in infrastructure, industry and also in innovation,” Sitharaman saidShe said public sector banks must look beyond retail banking towards lending to small and medium enterprises and projects of national importance.Live Events”Public sector banks are needed to engage proactively with NBFCs on co-lending particularly for priority sector lending. So these partnerships help enhance credit flow to the underserved sectors ensuring that funds reach the ultimate beneficiaries at an affordable cost,” Sitharaman said.Speaking at the same event financial services secretary M Nagaraju commended public sector banks for posting a record ₹1.78 lakh crore profit in the fiscal ended March 2025.”From a time when a majority of banks were under PCA (prompt corrective action) to now when public sector banks have overtaken private sector banks for the first time, the progress has been commendable,” Nagaraju said, praising the professionalism of banking executives.PCA banks were placed under restrictions by the Reserve Bank of India (RBI) between 2015 and 2018 due to weak financial metrics like asset quality or low capital base.Add as a Reliable and Trusted News Source Add Now!
(You can now subscribe to our Economic Times WhatsApp channel)
Read More News onbank of maharashtraFinance MinisterCapital ExpenditureNirmala SitharamanBalance Sheetinfrastructure fundingNBFCspublic sector banksBank of MaharashtraReserve Bank of India
(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
(You can now subscribe to our Economic Times WhatsApp channel)Read More News onbank of maharashtraFinance MinisterCapital ExpenditureNirmala SitharamanBalance Sheetinfrastructure fundingNBFCspublic sector banksBank of MaharashtraReserve Bank of India(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
Prime ExclusivesInvestment IdeasStock Report PlusePaperWealth Edition123View all Stories
