Finance Minister to banks: Innovate, focus on small deposits to plug gap with credit growth

India's Finance Minister has urged banks to focus on innovation and prioritize small deposits to address the growing gap between credit growth and deposit mobilization. The minister emphasized the importance of financial inclusion and urged banks to adopt new technologies and business models to attract small depositors. This approach is seen as essential for sustaining the growth of the banking sector and ensuring that credit expansion is supported by a robust deposit base. The minister's call to action reflects the government's commitment to promoting financial stability and inclusive growth.