‘Biz decisions of banking, insurance PSU employees should be dealt with trust’

"Insurance and banking industry are risk-based sectors. People working here have to tackle lots of risks to be productive. Their decision shouldn’t be misunderstood by government authorities always,’’ Kant said.

By: ENS Economic Bureau | Mumbai | Published:August 14, 2017 1:06 am
Niti Aayog, Amitabh Kant, PSU employees, PSU employees insurance, insurance sector, indian express news, business news CEO, NITI Aayog Shri Amitabh Kant. (Express Photo by Amit Mehra)

Niti Aayog CEO Amitabh Kant has said business decisions of employees in state-owned banking and insurance sector should be dealt with trust and shouldn’t be always misunderstood by the government.

“Insurance and banking industry are risk-based sectors. People working here have to tackle lots of risks to be productive. Their decision shouldn’t be misunderstood by government authorities always,’’ Kant said while addressing the 99th Foundation Day of the New India Assurance in Mumbai.

Decisions taken by public sector employees must be trusted. Companies must be professional board managed ones, he said. “That is the reason we, at Niti Aayog, are pushing for large-scale public sector disinvestment,’’ he said. There are seven factors the government and other government agencies must work upon so as to achieve the desired level of GDP growth in the range of 9-10 per cent in future. Some of these factors include ease of doing business, making India integrated with global supply chain and above all, the role of technology.

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