Union Finance Minister Nirmala Sitharaman is scheduled to meet managing directors of public sector banks (PSBs) on March 25 to review performance in the backdrop of several bank failures in the US and Credit Suisse’s liquidity crisis, according to news agency PTI.
Sources said the meeting will review the progress of banks in achieving the targets of various government schemes including Kisan Credit Card (KCC), Stand-Up India, Pradhan Mantri Mudra Yojana (PMMY) and Emergency Credit Line Guarantee Scheme (ECLGS) to help businesses affected by Covid-19.
Notably, this is the first full review meeting after the presentation of Budget 2023-24 and banks will be asked to focus on areas highlighted by the budget, including credit flow to the productive sector.
Sitharaman will review credit growth, capital raising, asset quality and the bank’s business growth plan for the next financial year, sources said, as quoted by PTI.
Besides, non-performing assets (NPAs) of Rs 100 crore and recovery status will also be discussed in Saturday’s meeting.
