......In a letter to the Reserve Bank of India (RBI), the finance ministry has said that for the next three years no private sector bank will get the agency business of the centre and states, pegged at about Rs 20,000 crore......
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1 comment:
This is the right message from the Finance Ministry. Private sector banks, especially the new generation banks have been concentrating only on the creamy layer of business when it comes to provision of credit and even deposit acceptance (small depositors are discouraged by various disincentives). When it comes to priority lending, they try to achieve targets by depositing funds in Rural Infrastructure Development Fund and avoid small accounts. SBI and PSBs should be compensated at least by allowing them to continue their existing share of government business.
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