New Delhi, Nov. 6 -- union Finance Minister Nirmala Sitharaman today said that India needs a lot of big and world-class banks, and the work has commenced in this regard. She urged the banking sector to support growth by expanding credit availability.
While speaking at an event organised by the State Bank of India (SBI), the Finance Minister said the government has taken countless path-breaking reform measures to improve ease of doing business since 2014. She stressed that policy consistency and transparency have encouraged investment.
"Banks must deepen and widen credit flow to productive sectors to promote growth," she said, adding that the Goods and Services Tax (GST) rate cuts will spur demand and investment.
"GST rate cut-driven dema...