Union Finance Minister Nirmala Sitharaman has said that institutions driving the financial system play a very crucial role in the country’s economic development. She added that to further strengthen the economy, banks will have to play an increasingly important role in the times ahead.

The Finance Minister emphasised that while technology is essential to accelerate economic growth, banks must also contribute with an innovative approach. She was speaking at a special function held in Pune to mark the 91st Foundation Day of Bank of Maharashtra.

Referring to Prime Minister Narendra Modi’s concept of “Nagrik Devo Bhava”, the Finance Minister underlined the need to ensure that taxation and banking schemes are designed to be customer-centric.
At the event, the Finance Minister inaugurated the new Corporate Office of the Bank at Baner and also launched the ‘Zen Life’ mobile banking application through video conferencing.