FM asks banks to upgrade tech

Lauding the Indian banking system as the strongest in the world, the finance minister on Monday asked the public sector banks to upgrade technology to provide services to people who have not been tapped so far. “Our NPAs are among the lowest in any banking system in the world,” Chidambaram said while inaugurating Union Bank of India’s Technology Centre here.

“We want to make it even better and offer support to public sector banks to innovate, to harness technology, go forward, go higher and push the frontiers of banking so we can achieve the goal of financial inclusion,” he said.