 "Finance Ministry, Ministry of Finance")
The Union finance ministry has asked public sector banks (PSBs) to work on strategies to improve deposit mobilisation and submit these soon, according to sources.
“The finance ministry has raised that mobilising bank deposits is the issue for the sector. Hence only proper strategy will solve the issue,” said a senior government official who was part of the meeting.
The meeting was chaired by the Department of Financial Services (DFS) Secretary M Nagaraju with the PSB chiefs and select private sector banks.
PSBs have seen an aggregate business growth of 11 per cent year-on-year (Y-o-Y) with improved aggregate deposit growth
