FM meets Citibank CEO, discusses way forward for banking system in India

PTI, Oct 22, 2024, 11:45 AM IST

Finance Minister Nirmala Sitharaman on Monday met Citibank CEO Jane Fraser here and discussed the banking sector in view of the decadal reforms and the way forward for India.

“The two discussed the use of #AI in important sectors such as #agriculture and #UrbanDevelopment as well as India’s booming #pharmaceutical sector and hub for the world,” the finance ministry said in a post on X.

Fraser complimented the Finance Minister for India’s digital payment transformation.

Fraser lauded the crucial reforms India has taken for infra-creation to build an ecosystem around MSMEs and said that it is important to make MSMEs a part of the supply chains.

During the meeting, Fraser also said that steps taken by the government of India towards ease of doing business will streamline business processes.

The finance minister also met global investment and Financial Services BlackRock CEO Laurence Douglas Fink.

The two discussed opportunities for global investors through NIIF and IFSC GiftCity as well as opportunities for financing of GreenTech and battery storage.

Fink informed that BlackRock is working with private partners in India, especially focusing on infrastructure development.