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Budget should be investment, consumption-oriented: Arundhati Bhattacharya

State Bank of India (SBI) Chairman Arundhati Bhattacharya on Monday said that allocation of money for infrastructure, capital infusion, activation of the new laws are the major expectations of the banking sector from the Budget which will be tabled i

India TV Business Desk, Chennai [ Published on: January 31, 2017 7:35 IST ]
Arundhati Bhattacharya
Arundhati Bhattacharya

State Bank of India (SBI) Chairman Arundhati Bhattacharya on Monday said that allocation of money for infrastructure, capital infusion, activation of the new laws are the major expectations of the banking sector from the Budget which will be tabled in the Parliament on February 1.

Speaking to reporters here on Monday, Bhattacharya said that the budget should be consumption and investment-oriented as not much of private investment coming in.

She said that allocation of funds for infrastructure, additional capital infusion for government banks, and operationalisation of laws to cut the non-performing loans are some of major expectations of the banking sector.

She also said that the sector is looking at the operationalisation of legal actions like the Bankruptcy Codes, amendment to Sarfaesi Act and the Debt Recovery Tribunal Act to derive the intended benefits.

On the demonetisation issue, Bhattacharya said normalcy in cash availability is expected to be back by the end of February.

She said the demand that got slowed down due to demonetisation is expected to pick up in two-three months.

However she declined to share the amount of demonetised currency the SBI has received.

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