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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8 Bangladeshis arrested in Thane for illegal stay
Thane (PTI): Police have arrested eight Bangladeshi nationals, including a woman, for illegally staying in Maharashtra's Thane district, officials said on Monday.
Based on a tip and a complaint, the police carried out raids on Saturday and Sunday at Kalher and Kongaon in Bhiwandi town, they said.
The eight persons, in the age group of 22 to 42 years, could not provide any valid documents for stay in India.
Three of them worked as scrap sellers, two as labourers, one worked as a mason and another as a plumber, the police said.
They were arrested and booked under provisions of the Foreign Nationals Act and the Indian Passport Act, the police added.
