Profits for the entire banking system are expected to start improving from the second half of this fiscal and turn positive for the whole fiscal, as most large private banks are expected to report profits, ratings agency Crisil said in its report.
Assocham Secretary General D S Rawat said while long term solutions like privatisation of banks can be sought, the need of the hour is to rally around honest bank officers and honest business entities which have built trust on each other.
New Delhi, Feb 29 (ANI): Finance Minister Arun Jaitley while presenting the Union Budget 2016-17 said they were confronted with stress assets problem in public sector banks. He said that public money should reach the poor and deserving without any leakage. A bill on targeted delivery of financial services using Aadhar is also to be introduced. Jaitley also said that prudence lied in adhering to fiscal targets. He also increased allocation of Rs 1, 80,000 crores under PM MUDRA Yojana. He further added that fiscal deficit for fiscal 2016-17 have been targeted at 3.5 percent. Revenue deficit estimate for Financial Year 2015-16 has been down to 2.5 percent from earlier estimates.