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“I am worried about long-term financing in India after the transformation of financial institutions like ICICI and IDBI into universal banks,” Mr. Goyal, who is looking after the Finance Ministry owing to the indisposition of Arun Jaitley, said at an Indian Chamber of Commerce event here.
The Union Minister wondered why banks were not floating long-term infra bonds with fixed coupon rates to raise money.
“Why the banks cannot float long-term infra bonds for a period of 25 years with a fixed coupon rate? It is a thought which is open for discussion,” Mr. Goyal, who also looks after Coal, Railways and Corporate Affairs, said.
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Speaking on the lending activity of banks, the Minister said “I had been focusing on the ability of the banking system to lend. We are trying to ensure that.”