Prime Minister Shri Narendra Modi on 29 July joined stakeholders from Banks and NBFCs to discuss and deliberate on vision and roadmap for the future.
- The crucial role of the financial and banking system of supporting growth was discussed.
- It was noted that the small entrepreneurs, SHGs, farmers should be motivated to use institutional credit to meet their credit needs and grow.
- Each bank needs to introspect and take a relook at its practices to ensure stable credit growth.
- Banks should not treat all proposals with the same yardstick and need to distinguish and identify bankable proposals and to ensure that they get access to funding on their merit and don’t suffer in the name of past NPAs.