business π Finance Minister pushes banks for next growth phase
Finance Minister Nirmala Sitharaman urged Public Sector Banks to use their strong balance sheets for future economic growth. She addressed bank heads in New Delhi, noting NPAs are at their lowest levels for Indian banking. Gross NPAs dropped from 14.6% in March 2018 to a record 1.93% by March 2026. This is crucial ahead of a committee examining banking for Viksit Bharat 2047. Banks must focus on youth finance and implementable ideas to boost the Indian economy.