Views of Smt. Arundhati Bhattacharya, Chairman, State Bank of India on Union Budget 2015-16

“The Budget has laid out a clear and tangible roadmap for the future. The decision to incentivise credit and debit card transactions coupled with the proposed new law on black money will bring down the social cost of unaccounted money, apart from adding to the bank bottom-line. The move to frame a Public Contract Bill will kick start activities in the construction sector plagued by disputes. The move to bring NBFCs at par with financial institutions will help banks to clean up their balance sheets by selling stressed assets at an early stage to ARCs. This apart, framing of Bankruptcy Law, sprucing up public investment to channelize private investment and monetisation of gold assets are positive steps.”