Indian Economy Overcame Twin-balance Sheet Problem, Banks Profitable: FM Nirmala Sitharaman.
The finance minister,
Nirmala Sitharaman, stated on Saturday that the Modi the government’s
concentrated efforts have shifted the Indian economy from the twin-balance
sheet dilemma of banks and businesses to the twin-balance sheet
advantage. Indian Economy Free of Twin-balance Sheet Issue, Banks Turning
a Profit: FM, Nirmala Sitharaman
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The minister made the
announcement at the opening of Punjab & Sind Bank’s new headquarters, where
public sector bank profits tripled from 2014 levels to 2022-23. When both banks
and corporations experience a decline in their financial stability at the same
time, this is known as the “twin-balance sheet problem.”
The Reserve Bank has
noted that the Indian economy is benefiting from the twin-balance sheet
structure, and Sitharaman has stated that this is thanks in part to the
government’s efforts to address the issue.
As per the Reserve
Bank, the Indian economy is reaping the benefits of having a “twin balance
sheet,” a word that the finance minister said he had not heard in a long
time.
She claimed that the
steps made by the Modi government since 2014 have enhanced the performance of
public sector banks. Return on the asset, net interest margin, and provisioning
coverage ratio all saw increases, she said.
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