Whalesbook
Ahead of the budget, banks and financial institutions met with Finance Minister Nirmala Sitharaman, proposing several key changes. Their demands include tax incentives for low-cost deposits, a dedicated refinance window for NBFCs, tax relief on high-value insurance policies, and easing SARFAESI Act provisions. They also sought tax exemptions on education loan interest and higher deductions for NPA provisions. These suggestions aim to stabilize deposit bases, manage funding costs, and enhance financial sector stability.