FM Nirmala Sitharaman is speaking to journalists after meeting leaders of state-owned banks in New Delhi ahead of her Budget speech in February. Economic growth has fallen to an over six-year low of 4.5 per cent in the Sept quarter and is widely expected to slip further with almost all key components of the economy contracting. The RBI has responded by cutting rates by 110 basis points to a nine-year low of 5.40 per cent.PM Modi’s govt has taken several steps, including cutting corporate tax in Sept, to boost investments and bolster economic growth. FM Sitharaman says banks need not fear bankers fear of three Cs: “fear of three Cs; Central Bureau of Investigation, Central Vigilance Commission, and Comptroller and Auditor General”.

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