National
Banks’ performance to be under scrutiny: Jaitley
New Delhi, Jan 6 (IANS) Finance Minister Arun Jaitley on Saturday said that Indian taxpayers were making a sacrifice to keep the banking system in good health and hence the performance of banks would be under the lens over the next few years.
He said the government’s Rs 2.12 lakh crore recapitalisation plan was to keep banks in good health, which was “extremely” important for the economy.
“The tax payers in India are making a sacrifice to keep the banking system in good health. This money which is being infused could be used in other social purposes. But that is the money being infused into the banking system to make sure that you are kept in good health so that you (banks) are able to improve the credit growth and growth processes in the country,” Jaitley said at the 75th anniversary celebration of the UCO Bank.
“The society through tax payers is reviving you. So it is your responsibility to come out with a much faster pace and in much better health so you are able to give a much more robust economy.”
“And therefore the next few years, your performance is really on test,” he said.
Jaitley said it was the responsibility of the banks to support and spur growth in India. He added a turnaround in the economy was now visible after various structural changes undertaken by the government which led to a “transient hiatus”.
“The lending that the banks do is an indication of how growth will move. The latest data has shown that credit growth has moved up. And once this infusion of capital takes place into the banking system, credit growth will further go up.
“And when that goes up, coupled with the revival of the global commodity prices, one should really visualize a better future from the current challenges,” he said.
–IANS
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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
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