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Union minister for state Kiren Rijiju said financial security is as important as National security

By Vinod
Google Oneindia News

New Delhi, Aug 23: At the India Banking Conclave (IBC), it emerged from the deliberations that banking is a serious business and it should be done with seriousness and alacrity, which has a very important responsibility to make this country a developed nations as aspirations of people in the country is very high. It also has the responsibility of social inclusion.

Union Minister of State for Home Affairs Kiren Rijiju

Sunil Ambekar, Akhil Bharatiya Vidhyarthi Parishad general secretary, said, "Our economy is growing with the aspiration of people. They are aspiring from our leaders to make the country a developed nation. Aspiration is very important for people of the country. I came to this programme after meeting students of IITs and NITs and I can tell that aspiration of people is very high."

Government move to identify NPAs and provisioning against them has been a big decision: GopalGovernment move to identify NPAs and provisioning against them has been a big decision: Gopal

He said that look even history students want to read tourism and it is happening and Bollywood which is un-organised sector where banking might play an important role not just in industry, growth is expected beyond manufacturing and services but many other sector to cater 30 crore people of the country. They cannot grow without participation of all. International institutions and people from across the world are doing survey and studies on rural areas. Rural areas are to be a major contributor for the country in the days to come.

Jan Dhan Yojana, Goods and Services Tax, demonetization and for other schemes banks worked as shock observers to bear these pressure. "We will be able to manage future challenges. Multi-level, multi-layer, corporate, private, cooperative, credit cooperative and self help group are important for the country. This is the time for synergy and synchronizations. For us every kind of banking is important. People in the country are taking about cast but we will move towards a caste less society. We will overcome all problems," said Ambekar.

He said that banking is not properly taught in universities and educational institutions. He insisted that the education system must device new curriculum and banking should be taught in a much bigger way if it has to take bigger challenges. What it needs, what man power is required, policy maker must be pointed so university should teach only corporate banking but other aspect of the banking as well. Banking sector with good manpower people-friendly and development banking should be developed.

Linking Aadhaar with bank accounts becomes boon for the banking industryLinking Aadhaar with bank accounts becomes boon for the banking industry

Union minister of state for Home Kiren Rijiju said that National security is as important as financial security, you cannot claim to be a proud citizen unless financial security is there. "My account no was P 19 when I opened it while studying in Class 9, which means large number of people are out of the banking sector, if you see Global Fortune 500 only SBI is the only Indian bank and there are total seven companies there. Why there is no Indian Banks in top 100. Two Chinese Banks have given more loans than World Bank. We have crossed 32 crore bank account why it was out of reach of the common," said Rijiju.

Some bold steps on NPAs and drastic measures taken are showing results, however, some of these measures were however pinching certain people. "But we must understand that crisis situations needs tough decision. The country was facing disease that needed operation and we will emerge healthy," said Rijiju. Similarly GST was necessary but just because some people were feeling uncomfortable but the country cannot stop for them. "Our basic welfare scheme will fail without the help of banking and banking will have to take the extra step to make welfare of the government of India a success," said Rijiju.

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