Mumbai: The former State Bank of India Chairman Arundhati Bhattacharya, said on Thursday that the government should give more time to the banks to prepare adequately prepare for demonetization, which was putting heavy pressure on the lenders.
That, On November 8 last year, Prime Minister Narendra Modi had announced the cancellation of 500 and 1,000 rupees notes. The purpose of this step was to reduce black money, corruption and fake currency.
According to Bhattacharya, after the retirement of the country’s largest lender at the beginning of this month, it needed more time to pay attention to whether or not the Note ban is a right move or Not. She said that while talking about the benefits of some demonetization, she said that the number of taxpayers has increased by 40 percent, less dependent on high value currency and more digitization, On government’s recent plan to impose a capital of 2.1 trillion rupees in the public sector banks, she said that if the economy is on the rise, banks will have to pay capital.
When asked if any politician had called to lend to any company, Bhattacharya said that no one calls at present and even if politicians demand any company there is no provision to lend to the banks. I can honestly say that no such call was made during my tenure. Today, the systems and processes in banks are such that a single person cannot make a call (decision on lending) is to be decided through a committee, Said Bhattacharya
