*Indian Bank and Allahabad Bank merged.
* Sitharaman said the government is trying to create big next generation banks
* Government also announced Rs55,250 crore upfront capital for credit growth & regulatory compliance to support economy.
* Big banks with enhanced capacity to increase credit and bigger risk appetite, with national presence and global reach
*Government's intention not just to give capital but also give good governance.
* There is no government interference in commercial decisions of banks, says Sitharaman.
* Gross NPA level has come down heavily.
*Govt monitoring large loans to avert frauds.
* Sanctioning and monitoring of loans are separated.
* Special agencies formed to monitor loans above Rs 250 crore to avoid a Nirav Modi like situation.
* Eight public sector banks have launched repo-rate linked loans in the last one week.
* Four NBFC have already found liquidity solution through a settlement with banks.
* Govt taking steps to make a clear path to achieve a target of $5 trillion economy.
* Sitharaman said the government is trying to create big next generation banks
* Government also announced Rs55,250 crore upfront capital for credit growth & regulatory compliance to support economy.
* Big banks with enhanced capacity to increase credit and bigger risk appetite, with national presence and global reach
*Government's intention not just to give capital but also give good governance.
* There is no government interference in commercial decisions of banks, says Sitharaman.
* Gross NPA level has come down heavily.
*Govt monitoring large loans to avert frauds.
* Sanctioning and monitoring of loans are separated.
* Special agencies formed to monitor loans above Rs 250 crore to avoid a Nirav Modi like situation.
* Eight public sector banks have launched repo-rate linked loans in the last one week.
* Four NBFC have already found liquidity solution through a settlement with banks.
* Govt taking steps to make a clear path to achieve a target of $5 trillion economy.
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