PM's interface withbanks

WHAT GOVERNMENT SHOULD DO • Move from state-owned to state-linked • Fully empower banks on HR decisions • Strengthen and ensure implementation of legal framework in cases such as debt recovery tribunals/willful defaulters • Enable infrastructure for digital banking • Create an environment to defend right decisions and minimise interference • Eliminate market distortions such as debt waivers • Strengthen and simplify the process of credit insurance WHAT BANKS NEED TO DO • Differentiate strategic focus and build on specific niches to optimise capital • Build people capabilities • Strengthen risk management to ensure early warning signals • Digitise top 30 processes, deepen mobile banking and focus on big data and analytics • Introduce and strengthen partner/non-bank channels to reach the financially excluded • Create/strengthen credit bureaus • Provide infrastructure support to better manage business correspondents Source: Finance ministry

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