09-May-2025
Banking
 
OECD urges India to pare govt ownership in banks, insurance companies
04-Oct-2023

The Organisation for Economic Co-operation and Development (OECD) on Tuesday urged India to further promote structural reforms in the financial sector by reducing government ownership of banks and insurance companies and liberalise foreign direct investment by removing remaining restrictions. In its latest Going for Growth 2023 report, the OECD charted country-specific structural policy priorities to strengthen growth fundamentals and pave the way for successful green and digital transitions. The recommendations are in four key policy areas, such as enhancing the design of social support programs, lifting potential growth by removing obstacles to effective resource utilisation, securing faster progress towards decarbonization, and making digital transformation a driver of productivity growth.

News Source:- https://www.business-standard.com/economy/news/oecd-urges-india-to-reduce-govt-ownership-in-banks-and-insurance-companies-123100300941_1.html