We want the committee to tell us what kind of things we need to do so that banking is made available for funding Viksit Bharat,” she told PTI Videos in an interview.
Asked if it would suggest a merger of public sector banks, Sitharaman said one should not narrow it down like that.
“It is for India’s banking sector to be made big enough, big enough in the sense, made or primed to take care of Viksit Bharat funding. You have to reach Viksit Bharat destination…it (Viksit Bharat) needs money, it needs financing, it needs credit, it needs banking facility to reach the common man.” When asked about the timeframe for formation of the committee, she said, “We will do it at the earliest”.
I propose setting up a ‘High Level Committee on Banking for Viksit Bharat’ to comprehensively review the sector and align it with India’s next phase of growth, while safeguarding financial stability, inclusion and consumer protection,” she had said in the Budget speech on February 1.
