Finance minister Nirmala Sitharaman to meet PSB chiefs on Aug 25, track performance – Times of India
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NEW DELHI: Finance minister Nirmala Sitharaman is scheduled to meet heads of public sector banks (PSBs) on August 25 to review financial performance of the lenders and progress made by them to support the economy. Given the importance of the banking sector in generating demand and boosting consumption, sources said the meeting with the PSB chiefs is considered important.
The FM had recently said the government is ready to do everything required to revive and support economic growth hit by the pandemic. “Growth will be given its importance. Growth will be pushed both by the RBI and by us…,” she had said.
This would be the first physical review meeting since the outbreak of Covid in March last year. The meeting is expected to take stock of the banking sector, and progress on restructuring 2.0 scheme announced by the RBI, sources said, adding that banks may be nudged to push loan growth in productive sectors. The revamped Rs 4.5-lakh-crore Emergency Credit Line Guarantee Scheme would also be reviewed during the meeting, likely to be held in Mumbai, sources said.
The FM had recently said the government is ready to do everything required to revive and support economic growth hit by the pandemic. “Growth will be given its importance. Growth will be pushed both by the RBI and by us…,” she had said.
This would be the first physical review meeting since the outbreak of Covid in March last year. The meeting is expected to take stock of the banking sector, and progress on restructuring 2.0 scheme announced by the RBI, sources said, adding that banks may be nudged to push loan growth in productive sectors. The revamped Rs 4.5-lakh-crore Emergency Credit Line Guarantee Scheme would also be reviewed during the meeting, likely to be held in Mumbai, sources said.
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