Demonetisation Helped Banks Improve Their Fund Situation: Arun Jaitley
New Delhi:Union Finance Minister Arun Jaitley on Tuesday said the demonetisation move allowed banks fetch in huge amount of money that would help the government to undertake welfare measures.
Addressing the BJP parliamentary party meeting here, Jaitley said as a result of demonetisation decision, "huge amount" of money has come to the banking system, which will help the state exchequer and the banking system.
"Such inflow of huge amount only helps to increase the banks' ability to invest more in development works and to give loans for agriculture and rural development. It is hence only natural that the loan interest rate will be less," Jaitley said, adding the banks have already started reducing the loan interest rates.
Jaitley, the Leader of the House in the Rajya Sabha, said: "We took the opposition by surprise in the Rajya Sabha and said we we were ready for the debate immediately. Caught unawares now, the opposition has only changed their strategy and are running away from debate."
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
