Budget strikes right balance to improve health infra, boost growth, say bankers
Finance Minister Nirmala Sitharaman announced capital infusion of Rs 20,000 crore into public sector banks in order to meet the regulatory norms.
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NEW DELHI: The Union Budget 2021-22 strikes a right balance to boost health infrastructure as well as support the COVID-19-hit economy as there has been a push for more spending, bankers said on Monday.
Unveiling the Union Budget 2021-22, that was for the first time came in a digital format, Finance Minister Nirmala Sitharaman announced capital infusion of Rs 20,000 crore into public sector banks in order to meet the regulatory norms.
Punjab National Bank on Thursday announced an alliance with IIT Kanpur and the Foundation for Innovation & Research in Science & Technology (FIRST) for establishing an innovation centre at the institute s campus. Under this partnership, PNB and IIT Kanpur will set up a Fintech Innovation Centre (FIC) as a vehicle to research and develop technological solutions to address challenges and explore opportunities in the BFSI space, the bank said in a statement. PNB intends to create new products or solutions with technological innovations by creating a FIC involving IITK s experienced faculty members with the help of FIRST, it said. The collaboration of technical prowess from IIT Kanpur and financial expertise of PNB make it an apt Fin-Tech partnership that will help build innovations and entrepreneurial excellence, it said, adding, the FIC will be supported by a holistic ecosystem of financial institutions, academia, VC funds, technology companies and key government organisation