Addressing the CEOs & Directors of Public sector banks today, Finance Minister Arun Jaitly enchants mantra to curb banking frauds.
Mantra to curb banking frauds
FinMin exhorted the banks to ensure all steps at their end, to assure clean lending and effective action in cases of fraud and willful default, to justify the trust reposed in banks. Banks must strive to be seen always as institutions of clean and prudent lending, the FinMin concluded.
A growing economy will also help banks grow in strength, he added. Conversely, as lifelines of the economy, banks would need to build their strength to support the lending needs of a growing economy.