Demonetisation will be good for the country in the long run, says CMD, Union Bank of India
Further stating that banking system is a reflection of the economy, he said, presently indicators are good, for instance, inflation has gone down, fiscal deposit is under control and so on.
Tewari was speaking at an interactive session organised by the MCC Chamber of Commerce and Industry, here on Friday.
Tewari said, schemes like PMJDY, various insurance schemes, Pradhan Mantri Mudra Yojana and others are also good for the economy.
He opined that MSME sector is the most important for Make In India scheme and said, all PSU banks are ready to work hand-in-hand to strengthen micro-level growth in the country.
He also opined that infrastructure and technological knowledge are important requirements for growth.
Speaking about his bank, the CMD of Union Bank of India stated that a scheme was initiated for Start-ups on Nov 11 which will require some time to take off in the current scenario.
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