NEW DELHI: On the one hand, the industry is shaken by the country's weak economy, and on the other hand, the Finance Ministry is in the process of making the country's economy $5 million. In this regard, the Ministry has sought public sector banks across the country from their branch level to officers at all levels. The campaign will last for about a month, which will help in designing the roadmap for further development of the banking sector.
It asks officials from the bank branch level to the State level and the national level to be involved in the process. The letter said that the objective of the consultation process is to keep the banking sector in accordance with national interests, achieve better suggestions and strengthen the spirit of inclusion in local level bankers. It also aims to include public sector banks as active partners in India's growth story over the next five years.
The country has set a target of becoming an economy of 5,000 billion dollars by 2024-25. Many industries are in a state of disrepair these days due to economic softening and are hoping for an incentive package from the government. The auto industry has been the worst hit by this slowdown and the sector has lost most of the jobs. There is a lot of pressure on the Government to correct the economy.