Union Minister for Finance and Corporate Affairs Nirmala Sitharaman has exhorted the banking sector to play a lead role in realising the dream of a developed India by 2047.
Sitharaman observed that the next 25 years which the PM refers to as Amrit Kaal have taken off very well, with the auspicious beginning of India becoming the fifth largest economy in the world.
“We have so much and more to do, the banking industry needs to serve the Amrit Kaal, we have to see how best we can lift ourselves to meet the aspirations of a growing India," she said.
It is the banking sector which has to make a big contribution towards this, she said while addressing the 75th annual general meeting of the Indian Banks' Association in Mumbai.
The minister said that banks are the biggest catalysts to growth.
Professionalise your decision-making boards, there is no way banks can any longer run with a crony background, our government has ensured that there are no instructions given or interference made in the functioning of the banks, she said.
"We need to take professionalism at a faster pace. We are conscious of the need to let the banks be, and let them run by professionals, with a purely banking perspective in mind,” Sitharaman added.