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FM Nirmala Sitharaman reassured industry stakeholders, stating the government's directive to SEBI to consult shareholders and amend regulations perceived as overly restrictive. Addressing concerns of stifling innovation, Sitharaman emphasized a balanced approach for growth. She urged state-run banks to attract deposits with competitive interest rates while supporting India's expanding credit needs.

The comments by the finance minister come a day after Reserve Bank of India Governor Shaktikanta Das advised banks and non-bank finance companies to be careful and ensure that credit growth exuberance is avoided

Speaking at the Digital Acceleration & Transformation Expo in the capital, organised by Trescon, the minister said: "Enthusiasm is good but sometimes it becomes a bit too far for people to digest. So as a measure of caution the RBI (Reserve Bank of India) has also alerted small finance banks, NBFCs to be careful that they don't go too far too soon and face any downside risks later."

"At Volvo, we have set target that by 2030, 50 per cent of our vehicles will be non-fossil fuel-based. They will be non-polluting. Balance 50 per cent will become non-zero emission by 2040," Volvo Group President and Managing Director in India Kamal Bali said.

Pti: Indian Finance Minister Smt. Nirmala Sitharaman to inaugurate Trescon's DATE in New Delhi