Banks must tap into UPI infra to boost biz, says FM Sitharaman

Quick Summary:

Finance Minister Nirmala Sitharaman advised banks to utilize digital footprints from UPI to grow their balance sheets.

She highlighted UPI's international usage and emphasized adopting technology for risk mitigation and improved customer service.

Sitharaman also urged banks to support businesses under stress rather than waiting for them to collapse.

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Article Details

Author / Journalist: Shashank Didmishe

Category: EconomyBusiness

Markets: IndiaBhutanFranceItalyMalaysiaMauritiusNepalPakistanSingaporeSri Lanka

Topics: Digital payments Big data analytics Risk mitigation Indian banking system MSMEs UPI Bank of Maharashtra Nirmala Sitharaman

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-20 @ 06:34:33 (1 weeks ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 304 words

Reading Time: 2 minutes read

Sentences: 22 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 22611123

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About Times of India

Main Topics: EconomyBusiness

Official Website: timesofindia.indiatimes.com

Update Frequency: 28 posts per day

Year Established: 1838

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Coverage Areas: India

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Publisher ID: #28

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