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Sitharaman holds pre-budget consultation
National

Sitharaman holds pre-budget consultation

Agency News

New Delhi, June 13: Union Finance Minister Nirmala Sitharaman held her third Pre-Budget Consultation Meeting with the stakeholders from Financial Sector and Capital Markets here on Thursday and the main areas of discussion included issues relating to the Capital Markets, Financial Sector, Non-Banking Financial Companies (NBFCs) and Alternative Investment Funds (AIFs).

Along with the Finance Minister, the meeting was attended by her deputy Anurag Thakur, Finance Secretary Subhash C Garg, Expenditure Secretary Girish Chandra Murmu, Revenue Secretary Ajay Narayan Pandey among others.

With a view to give a boost to Indian markets, the representatives of Financial Sector and Capital Markets submitted several suggestions concerning infusion of capital in niche/regional banks, enhanced role of Financial Sector Development Council, on the NBFC Sector, a statement said.

They suggested need to distinguish between solvency, governance and liquidity issues was mentioned along with creation of dedicated liquidity window for NBFC sector, review of interest rates on Government’s Small Savings Schemes, review of banking NPAs provisions through setting-up a Committee, enhancing financial literacy programmes and funding, incentivising agricultural marketing. (UNI)