Industries themselves now recognise they have avenues outside of the banks FM

Industries themselves now recognise that they have avenues outside of the banks, said Union Finance Minister Nirmala Sitharaman on August 25 during an annual review meeting with public sector banks in Mumbai. “Today, nature of banking is also changing. We see even from industry inputs that people are able to raise finances even outside of banking system. Several decades post, Independent India has only depended through the banks for funds which businesses would want. Now, industries themselves recognise that they have avenues outside of the banks. Even our banks themselves have raised revenues from the markets,” said Finance Minister Sitharaman.