Foreign banks will bring more innovation in priority sector lending space and fill the void left by the “inefficiency” of public sector banks, K. C. Chakrabarty, Deputy Governor, Reserve Bank of India, said. “We think they will bring new products, new services and innovation. More innovation is required in agriculture and small and medium scale enterprises (SMEs) rather than in the derivatives markets,” he said at the 2nd FT-YES Bank International Banking Summit.........
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