Bankers brainstorm with Goyal on improving credit flow, sector's heath
Mumbai, June 8: Top bankers from north and south India on Friday discussed modalities to improve credit flow and setting up global standards in the banking system, Finance Minister Piyush Goyal said here.
"There was an internal discussion among the bankers, particularly in respect to improving credit flow while mitigating risk associated with it," he said in a press conference after meeting the bankers.
Goyal said the banks may also consider having an oversight company with retired judges or vigilance officers to advise on the health of the banks.
A committee has been formed under Sunil Mehta, non-executive Chairman, Punjab National Bank to come up with recommendations, within two weeks, on suggestions given by bankers on Friday on whether to set up a asset reconstruction company or asset management company for faster resolution of stressed asset.
"The government stands committed to support 21 public sector banks," the minister added.
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Muslim leaders submit memorandum to JPC member Imran Masood against Waqf Bill
Jaipur (PTI): A delegation of Muslim leaders associated with the Congress met party MP Imran Masood, who is a member of the Joint Parliamentary Committee on the Waqf (Amendment) Bill, in Ajmer on Sunday and submitted a memorandum against the provisions of the bill.
The bill was introduced in Lok Sabha on August 8 and referred to a joint parliamentary panel after a heated debate. The 31-member panel will submit its report by the next session of Parliament.
While the government has asserted that the proposed law did not intend to interfere with the functioning of mosques, the opposition called it targeting of Muslims and an attack on the Constitution.
The delegation of Muslim leaders met Masood, who was on a visit to Ajmer, and said the members of the community are opposed to the amendments because Waqf is a religious matter of the Muslims.
"We will not allow the government to interfere in our religious matters. The Constitution allows us to function according to our religion. The truth is that the government's intentions are not right," stated the memorandum addressed to the JPC's head Jagdambika Pal.
"Waqf is a completely religious matter and interference in it will not be right," it said.
The delegation included Ghulam Mustafa Chishti, Muzaffar Bharti, Rab Nawaz Jafri, Manzoor Ali, Ashraf Buland Khan, Ajmat Khan and Wahid Mohammad.
