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Business EconomyPosted at: Feb 26 2020 7:00PM


Sitharaman stresses on use of local language in banking

New Delhi, Feb 26 (UNI) Finance Minister Nirmala Sitharaman on Wednesday appealed to the banks to reach out to the customers at the branch level and stated that every branch should have employees, who know the local language and all employees should know about the government schemes.
Addressing the EASE 3.0: Smart,Tech-Enabled Banking for Aspiring India and launching the EASE 2.0 Annual Report at Indian Banks' Association function, the Finance Minister said there is a difference between Private and Public Sector Banks. ''Contacting customers at the branch level is the style of functioning of public sector banks. Would want banks to go back to branch-based banking,'' she asked.
Ms Sitharaman stressed on need for strong action to get back bad loans.
She said that all the employees at branch level should be aware of all government schemes and all the customers should be told about them so that more people can take more advantage of it.
Ms Sitharaman urged the unions to introspect on banking at the branch level and said that every employee should be encouraged for this.
She also added that in the festive season, by running a campaign in 400 districts, banks gave loans of about Rs four lakh crore. Now, the same work needs will be done in the Northeast, she said, adding that there is a meeting on the issue in Guwahati on Thursday.
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