"We need exact criteria of expediency and effectiveness of the state participation in the capital of credit organizations," Putin said. "The role of state representatives in the control for their activities should be reinforced if this participation is necessary."
The president said most state-run banks remained weak and incapable of servicing major projects, while he urged banks to play a role in ambitious national projects to improve the country.
"The Russian banking system may offer citizens broader and more varied services that should be more affordable to clients," Putin said. "Banks should be more proactively involved in the implementation of key national projects."
He also said Russian banks had to improve their competitive ability.
The president said the inadequate banking infrastructure hampered the development of Russian regions, especially Siberia.
"The scale and quality of the banking system and its services should meet new tasks and the modern demands of [Russian] citizens," he added.
