Recapitalisation of PSBs high on agenda: Arun Jaitley

Jul 20 2014, 01:09 IST
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Finance minister Arun Jaitley arrives for inauguration of a Canara Bank branch in New Delhi on Saturday.	PTI Finance minister Arun Jaitley arrives for inauguration of a Canara Bank branch in New Delhi on Saturday. PTI
SummaryIn sync with finance minister Arun Jaitley’s Budget promise to bolster the capital base...

noted that only 58% of the population has access to the banking system presently. He added that the proposal to offload bank shares to retail investors will bring more money into the banks, which then can be used to expedite the process of financial inclusion and bring in the remaining 42% of the population into the banking system.

The financial inclusion programme is extremely important and is a very high priority item for the government,” he said, adding that the banking system should also be used to help micro and small enterprises. Pointing out that huge amounts of money are lying outside the banking system, he said when such money is brought into the system, it can also be used for expanding economic activities and create world-class infrastructure in the country.

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