In his letter to the parliamentary committee, the celebrated economist Rajan listed out the key reform areas to prevent recurrence of the kind of bad loan that the system is currently grappling with.

Raghuram Rajan explained that loans under Modi government's popular flagship scheme Pradhan Mantri Mudra Yojana and the Kisan Credit Card needed to be examined \"more closely\" for potential credit risk.

Women are not just rising up the corporate ladder; they are making a huge impact at the grassroots too.

Other than convincing the RBI and bankers to back the road projects, Jaitley will also have to work with the central bank to develop financial institutions.

According to the latest data uploaded on Monday, the new members enrolment in June is the highest so far in the last 10 month at 7,93,308.

Prime Minister Modi said that the country has made rapid changes in the past four years compared to 2013 when the Congress-led UPA government was in power.

Government of India has dismissed former Punjab National Bank managing director Usha Ananthasubramanian; India has disbursed nearly 13.47 crore loans worth Rs 6 lakh crore under the Pradhan Mantri Mudra Yojana; and rupee has touched yet another historic low. BusinessToday.In Editor Rajeev Dubey explains this and more on The Good, The Bad and The Ugly.

The Mudra scheme was aimed at fulfilling Modi's 2014 election campaign promise of jobs to youngsters. Under this much-touted scheme, over 90% loans are small loans (up to Rs 50,000), which as experts believe are not enough to create substantial jobs.

PM Modi argued that when investment in infrastructure projects like, making roads, laying down rail lines, setting up power generation is at all-time high, how come the jobs will not be created.

On the issue of Opposition making a big hue and cry over jobless growth, Modi says he does not blame the Opposition as the country itself lacks the accurate matrix to measure jobs being created in 'New India'.

Given that the public sector banks alone control 75 per cent of the total business in the country, the public is sure to face some inconvenience till the strike ends, or is called off.

In his speech, Modi also blamed the previous governments of tokenism and not doing enough for small businesses. \"Do you know 25-30 years ago there used to be loan melas for political benefit?\" he posed to the audience, adding that there used to be great fanfare for them but no one bothered to find the end results - back then people who were close to politicians used to gets loans with no intension of returning them.

DT Franco, general secretary, All India Bank Officers' Confederation said about 1 million bank officers are expected to participate in the strike on May 30 and May 31.

Public sector banks have a lot of catching up to do to engage with fintech players.

The employees of public sector banks will go on a two-day strike from May 30-31 to protest a 'meagre' 2 per cent wage hike offered by the Indian Banks' Association (IBA).