Need to increase credit flow to businesses as economy grows: PM Modi
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He mentioned that though the federal government’s endeavour is to promote the non-public sector, public sector presence in banking and insurance coverage can be required
Prime Minister Narendra Modi on Friday careworn on rising credit flow to businesses to meet the wants of a quick reflating economy and mentioned monetary merchandise could have to be tailored for fintech and startups.
He mentioned that though the federal government’s endeavour is to promote the non-public sector, public sector presence in banking and insurance coverage can be required.
“As our economy is growing, and growing fast, credit flow has also become equally important. You have to see how credit reaches new sectors, new entrepreneurs. Now you will have to focus on creation of new and better financial products for Startups and Fintech,” Mr Modi mentioned, addressing a webinar on Budget proposals relating to the monetary sector.
Mr Modi additional mentioned “the government is taking steps to make the financial services sector vibrant, proactive and strong”.
He added that the federal government would stand by all enterprise choices taken with the proper intent.
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