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Three years of Modi govt: Banking transformation still in the works

Govt has given a major push to digital payments but not much has been achieved on the NPA front

Anup Roy  |  Mumbai 

From the ramparts of the Red Fort in New Delhi on August 15, 2014, the newly elected Prime Minister Narendra Modi declared war on financial exclusion, throwing bankers into a frenzy of activity, and passing on a message that the financial sector - mainly banks - would transform in India. This was quickly followed by a mass pension scheme, a dedicated nodal agency for small and medium enterprises and digitising payment services via the Unified Payments Interface (UPI) to enhance transparency and improve financial inclusion in India.  Three years hence, banks in India are ...

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First Published: Thu, May 18 2017. 14:48 IST
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