FM asks PSBs to launch more attractive deposit schemes
Financial Express Mumbai|December 31, 2023
FINANCE MINISTER NIRMALA Sitharaman on Saturday asked state-owned banks to come out with innovative and attractive schemes to mobilise deposits from the public as this will enable them to extend more credit.
FM asks PSBs to launch more attractive deposit schemes

The minister was addressing MDs and CEOs of public sector banks (PSBs) at a meeting to review the performance of lenders.

In her address, the minister also underlined the need to take strict administrative action against conniving officials who enable fraud and wilful defaults. During the review meeting, an official statement said, the minister "emphasised the importance of mobilising deposits, urging public sector banks to innovate and offer attractive deposit schemes to enhance their deposit base, which will also enable them to extend more credit".

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