Banks should know their core strength before scaling up: FM


Chennai, Nov 23 (IANS): Union Finance Minister Nirmala Sitharaman said on Saturday that banks should understand their core strengths before deciding on scaling up their operations.

Speaking at the 116th foundation day celebrations of private lender City Union Bank (CUB), Sitharaman said: "Scaling up is like a contagious disease. But institutions like banks should understand their core strengths."

She said that banks should first ponder whether it's core strength would get weakened.

Sitharaman also said that CUB didn't go for unnecessary scaling up.

Praising CUB as a great institution with unblemished record, Sitharaman said one should cite this bank as an example instead of citing multinational companies.

She said an institution functioning for over 100 years without losing a day due to strike is something to be celebrated.

 

  

Top Stories


Leave a Comment

Title: Banks should know their core strength before scaling up: FM



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.