PM Modi Holds Digital Conference with CEOs of Financial Sectors, Talks to Improve Economy




Being the best Leader and Negotiator Globally, PM Narendra Modi holds a virtual talk with the CEOs of both public and private sector banks. According to the latest finance news of India today, the nation is witnessing a rough patch of the economy by hitting hard with the rising number of COVID-19 cases. After offering various economy-soother packages pushed up by Pradhan Mantri Scheme. People are still to grab the best of financial relieves so to lift-up their business again.

As stated in the finance news of India today, PM Modi has held a meeting with top bankers and CEOs of public and private sector banks. The purpose of this meet was to offer the best financial supports to the common man for making their business gain-up more productivity.

It was a three-hour-long meeting with both public and private sector bank’s CEO who can better levy better support for ‘Atmanirbhar Bharat Mission’. According to the sources, all the major banks of India were invited to be part of this initiative.

Finance News of India Today: Agenda of PM Modi’s Meet

The agenda for the meeting was structured on the grounds of credit products and efficient models. This further includes financial development in technology, prudential practices for stability, and sustainability of the financial sectors.

Who attended the meeting with PM Narendra Modi?

  • SBI Chairman- Rajnish Kumar
  • PNB Managing Director- SS Mallikarjuna Rao
  • ICICI Bank Managing Direction- Sandeep Bakshi
  • HDFC Bank Managing Direction- Aditya Puri
  • HDFC Ltd Managing Director- Renu Sud Karnad

As coronavirus cases scale daily, bank credit growth has seen a stiff fall from 11.5% to 7%. According to the loss of life due to COVID-19, such a situation will continue to gnaw the situation even worse.

To facilitate some spring in this crunch, RBI


 has brought down the loaning rate to a mere 4%. Corporate and private sector businesses are still waving off such a low lending rate due to uncertainty and state-wise lockdown.

According to the finance news of India today, private banks are minting less amount of Repo rate that has pushed them to take assistance and involvement of RBI in their proceedings.

Furthermore, HCFC Chairman Deepak Parekh has shown confidence in escalating India’s economy soon before pandemic getting over. He said, “Signs of the Wheels of the economy beginning to churn are evident. From the following facts: unemployment rates have tapered down from their peaks in May. E-Toll collections are higher, e-way bills and digital transactions and GST collections.”

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