150,000 bankers to discuss how to make India $5-trillion economy by 2024

To contain high bad loans in the MUDRA scheme, the managers suggested that a national portal be floated to verify the borrower and whether multiple lending has happened

More than 150,000 branch managers of public sector banks (PSBs) brainstormed over the weekend on what could be the banking system’s contribution to double the size of the economy to $5 trillion by 2024, with an additional aim of holding an impromptu performance audit of branches.

This is the first level of a three-level exercise, done under the behest of the department of financial services of the Ministry of Finance. The two-day branch-level meet will be followed up by a state-level meeting, convened by a lead bank on August 22-23. Sometime early next month, dates have not been fixed yet, the