Weeks before the release of Union Budget 2023, the Union Minister of State for Finance, Dr Bhagwat Kishanrao Karad talked about financial inclusion, financial independence to women and more at BT Banking Summit 2023-24
During a conversation with Siddharth Zarabi, Managing Editor, Business Today TV, Dr Bhagwat Karad said that the government’s aim is banking for unbanked, security to the unsecured, and funding to the unfunded
There isn’t a single case of loan defaulter or Non-Performing Assets where the defaulter has flee away from India after 2014, says BK Karad while talking about the rules to prevent loan default
Is it untrue that the govt. is trying to privatise everything, is the public sector is not giving good output, then we try to improve its efficiency, said Dr. BK Karad
Dr Bhagwat Karad talked about the number of govt schemes to ease the banking process in India especially for the poor, such as Pradhan Mantri PM SVANidhi Yojana and Pradhan Mantri Jan Dhan Yojana
Minister BK Karad also listed down the requirements to access the benefits of the govt. schemes such as Aadhar Card, Voter ID and an assurer as he talked about the ease of banking for the street vendors through PM SVANidhi Yojana
The MoS, Ministry of Finance, stated that there is an increase in financial inclusion of women who have been assisted in opening their own bank accounts
The govt. has aimed at 99.6% rural inclusion via Bank Sakhi, and multiple bank branches in the villages, said MoS, Ministry of Finance, Dr BK Karad while talking about financial strengthening of the rural areas
“For the Indian economy, we need both the sectors to co-exist,” said Dr BK Karad. He further said that we must run the government banking schemes in private sector banks as well
The BT Banking & Economy Summit held on January 13 featured dynamic sessions with RBI Governor Shaktikanta Das, Union Minister Nitin Gadkari, KV Kamath among others. Leading bankers such as Hitendra Dave, HSBC India; Ashu Khullar, Citibank India; Kaustubh Kulkarni, JP Morgan India and more were in attendance
Produced by: Bhoomika