Money & Banking

Aspirational and pro middle-class budget: Karnataka Bank chief

Our Bureau Mangaluru | Updated on February 01, 2020 Published on February 01, 2020

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Mahabaleshwara MS, MD and CEO of Karnataka Bank, termed the Budget an ‘aspirational and pro-middle-class’ one.

“This is an aspirational and pro-middle-class budget, mainly for the reason that more thrust has been given to agriculture, affordable housing, tourism, renewable energy and infrastructure sectors. These are all the areas that could touch the middle-class population,” he said.

Another plus point is the enhancement of deposit insurance cover from ₹1 lakh to ₹5 lakh. This would help retail depositors, he said. The proposed mechanism for NBFCs and housing finance companies would further fuel the growth, he added.

Published on February 01, 2020
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