Be alert, take stress tests, Sitharaman tells PSBs amid US bank crisis

Sitharaman advised the PSBs take steps to attract the deposits given the steps taken by the government to reduce the tax arbitrage in some debt instruments. She also asked them to pivot their strengthened financial position to support credit needs of the growing economy and focus on credit outreach in states where the credit offtake is lower than the national average, particularly in northeast and eastern parts of India.

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