SBI chief in panel to assess competitiveness of financial sector

Tags: News
SBI Chairperson Arundhati Bhattacharya has been included as a member in the Council to assess global competitiveness of the Indian financial sector with regard to transaction costs as well as tax rates and suggest reforms.

Bhattacharya's name has been included in the Standing Council of Experts to assess and make recommendations regarding international competitiveness of the Indian financial sector, the Finance Ministry said.

The committee was set up in June this year.

Also, a sub-committee of the council has been set up which will meet more frequently and report to the standing council.

The Standing Council of Experts, under Economic Affairs Secretary and comprising government and private sector experts, will examine various pecuniary and non-pecuniary transaction costs/ burden of doing business in the Indian market and make recommendations for enhancing its competitiveness.

Setting up of the Council is in accordance with an announcement made by Finance Minister P Chidambaram in his Budget speech.

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