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Fin Min urges banks to make interest rates affordable
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FM Nirmala Sitharaman
#Mumbai
Union Finance Minister Nirmala Sitharaman on Monday said people are finding current interest rates “very stressful” and urged banks to make them affordable.
Speaking at an event organised by SBI, the finance minister said that at present, India requires industry to ramp up and invest in new facilities, and added that lowering lending rates can help achieve the “Viksit Bharat” aspiration.
“What is important is when you look at India’s growth requirements, and you can have so many different voices coming out and saying the cost of borrowing is really very stressful, and a time when we want industries to ramp up and move (to) building capacities, bank interest rates will have to be far more affordable,” Sitharaman said.
500 branches of SBI
Finance Minister Nirmala Sitharaman on Monday said SBI will open another 500 branches to take its overall network to 23,000 by the end of FY25. PTI
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