Citibank CEO meets Finance Minister Nirmala Sitharaman and admires Indian payment system

Finance Minister Nirmala Sitharaman on Monday met the Chief Executive Officer of Citibank, Jane Fraser, here and discussed the banking sector in view of decade-long reforms and India's future.

The Finance Ministry shared information about X and wrote, "Both discussed the use of AI in important sectors like agriculture and urban development, besides India's fast-growing pharmaceuticals sector." Jane Fraser praised the Finance Minister for India's digital payment transformation.

The CEO of Citibank praised the important reforms undertaken by India in creating infrastructure to create an environment for micro, small, and medium enterprises, or MSMEs, and said the time had come to make MSMEs a part of supply chains. During the meeting, Fraser said the steps being taken by the Indian government toward ease of doing business would streamline the trade processes.

The Finance Minister also met Laurence Douglas Fink, chief of global investment and financial services company BlackRock. Both discussed opportunities for global investors through NIIF and IFSC GiftCity and also discussed opportunities in the financing of Greentech and battery storage. After meeting the Finance Minister, Fink said that BlackRock is working with private partners in India, especially focusing on infrastructure development.