The Union Finance Minister Inaugurates Bandhan Bank
The Union Finance Minister Inaugurates Bandhan Bank
Growth of the Eastern and North-Eastern States a Must- Shri Jaitley
Growth of the Eastern and North-Eastern States a Must- Shri Jaitley
The Union Finance Minister Shri Arun Jaitley said 25 crore families could be brought under financial inclusion by the Jan Dhan Yojana alone. Inaugurating the Bandhan Bank, the first commercial bank from Eastern India to get RBI clearance since independence, Shri Jaitley said 17.5 crore bank accounts have been opened in Jan Dhan Yojana scheme so far. Appreciating the performance of Bandhan, as a NBFC since 2001 he said the NPA of Bandhan is very small and as it commits, Bandhan will concentrate on financing the small and medium enterprises (SME). In this context, the Union Finance Minister cautioned the new Bank to keep their focus to serve the weaker sections of the society unchanged, most of whom are among the 75 lakh customer of Bandhan Financial Services .
Speaking on the Social Security Schemes, he added that expansion of these Schemes will help the banking segment grow. The MUDRA agency, he mentioned, has so far been able to finance the unfunded section of the society and it will continue to play the same role.
Bandhan, the new born member of Indian banking industry has started operating today with 501 branches all over the country. The bank is beginning its operations with 1.43 crore accounts, 10,448 crore loan and 19500 employees and already has a presence in 24 states, said Shri Chandra Sekhar Ghosh, the Managing Director and Founder of the Bank.
West Bengal Finance Minister Shri Amit Mitra, and RBI Deputy Governor Shri H.R.Khan also addressed the ceremony.
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The Union Finance Minister Criticizes the Politics of Growth Obstructionism
Corporate Tax to be Reduced Gradually to 25 Percent-Shri Jaitley
Corporate Tax to be Reduced Gradually to 25 Percent-Shri Jaitley
The Union Finance Minister Shri Arun Jaitley said politics of growth obstructionism is not permissible. Addressing an interactive session on Vision 2020, organized by the Indian Chamber of Commerce, in Kolkata today, he said the last session of the Parliament was disappointing as the maturity of political wisdom was put to test during the period. The Union Finance Minister spoke at length on various aspects of the economy and assured that Corporate Tax will be gradually reduced to 25 percent over the years. Advocating the need of introduction of GST, he pointed out that West Bengal has lent its support to the new regime and the state will be benefit from it.
Identifying the priority areas of the government, Shri Jaitley said a large amount of Rs. 50,000 crore will be allocated for the irrigation sector which is very crucial for growth of agriculture. In this context he spoke about the Financial Inclusion and the Social Security Schemes introduced by the government in detail and said that the next areas of financial inclusion will include agricultural insurance. Shri Jaitley however admitted that many reforms are pending, some of which could have been completed if the Parliament session could be held properly. However, the government will try to address the concerns of the industry, he added. In this context the Union Finance Minister appreciated the role of some states that they are doing well in a number of sectors.
A few stalwarts of business and industry from Kolkata like Shri Y.C.Deveshwar later participated in an interactive session with the Union Finance Minister.
Identifying the priority areas of the government, Shri Jaitley said a large amount of Rs. 50,000 crore will be allocated for the irrigation sector which is very crucial for growth of agriculture. In this context he spoke about the Financial Inclusion and the Social Security Schemes introduced by the government in detail and said that the next areas of financial inclusion will include agricultural insurance. Shri Jaitley however admitted that many reforms are pending, some of which could have been completed if the Parliament session could be held properly. However, the government will try to address the concerns of the industry, he added. In this context the Union Finance Minister appreciated the role of some states that they are doing well in a number of sectors.
A few stalwarts of business and industry from Kolkata like Shri Y.C.Deveshwar later participated in an interactive session with the Union Finance Minister.
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