Banks and financial institutions pitched for a delay in the fiscal deficit road map and for more focus on greater public spending to ensure economic revival, at a Budget 2016 meeting with Finance Minister Arun Jaitley on Tuesday.
The institutions also wanted incentives to encourage cashless transactions through debit/credit cards and rationalisation of interest rate of small savings schemes.
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The two-hour meeting saw heads of the country's public and private sector banks - including State Bank of India, Axis Bank, Bank of Baroda, ICICI Bank, LIC, IIFCL, IDBI Bank, NABARD, Citi Bank and L&T Finance Holdings - discuss key measures that could be introduced in the Budget 2016-17 to ensure economic growth revival.
