November 30, 2022

Know the reasons why public banks improve their health. How will the RBI Governor be able to improve the condition of public sector banks? Panch is stuck in the deposit and loan game

Banks have created trouble for themselves. Most of them insist on selling third party products like life and health insurance, mutual funds to increase their income. For this, target pressure is put on the workers.

How will the state of government banks improve?

Image credit source: PTI files

Public sector banks To improve health Reserve Bank of IndiaGovernor Shaktikanta Das is holding a meeting with Chief Executive Officers (CEOs) of public sector banks today. The meeting will discuss slowing deposit growth and maintaining high credit demand. RBI According to the data, bank deposits increased by 9.6 percent compared to 10.2 percent on an annual basis. Borrowing rose to 17.9 percent compared to 6.5 percent a year ago.

In this scenario, RBI is continuously making efforts to improve the health of these banks. Whether the repo rate is increased or the condition of these banks is taken stock from time to time. RBI is trying to improve their situation.

5 lakh deposit is safe

The slow growth of bank deposits is mainly due to public concern about the safety of their deposits due to irregularities in private and cooperative banks from time to time. Even though the government guarantees the security of bank deposits up to 5 lakhs, those who keep more than that are worried about security.

The banks themselves created the trouble

Ashwini Rana, banking expert and founder of Voice of Banking, says banks have created a problem for themselves. Most of them insist on selling third party products like life and health insurance, mutual funds to increase their income. For which banks sell these third party products to set targets by putting pressure on their employees. Due to this, the money deposited in the bank goes to this third party product.

Turn off third-party products

According to Ashwini Rana, to increase the amount of deposits in banks, where one more customer has to guarantee the safety of their entire deposit, banks should stop trading in third-party products and allow them to focus only on banking. for

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English News Headline: Government banks know the reason why they improve their health

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