FM Nirmala Sitharaman to meet CEOs of public sector banks on Wednesday
The meeting with MD and CEOs of PSBs assumes significance given the importance of the banking sector in generating demand and boosting consumption
Finance Minister Nirmala Sitharaman will meet heads of public sector banks (PSBs) on Wednesday to review the financial performance of the latter. The finance minister will also review the progress made by these banks in supporting the economy during the pandemic.
The meeting assumes significance given the importance of the banking sector in generating demand and boosting consumption.
The meeting is likely to take overall stock of the banking sector and review the progress on the restructuring 2.0 scheme announced by the Reserve Bank of India.
The revamped Rs 4.5-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) would also be reviewed during the meeting.
Sitharaman is also expected to take stock of the non-performing assets situation, and discuss various recovery measures by banks.