New Delhi, August 18, 2024: Union Finance Minister Nirmala Sitharaman will hold an important review meeting on August 19 at Vigyan Bhawan to assess the performance of Public Sector Banks (PSBs) and Regional Rural Banks (RRBs). The meeting will focus on evaluating key financial metrics and reviewing the impact of government schemes to ensure these financial institutions are contributing effectively to the nation’s economic objectives.
The review will begin with a session for PSBs from 11:00 AM to 1:00 PM, where discussions will center around crucial aspects such as deposit growth, credit-to-deposit ratios, and asset quality. These indicators are essential for assessing the overall health of the banks. The meeting will also cover the status of accounts transferred to the National Asset Reconstruction Company Limited (NARCL) and will include an update on actions taken and future strategies. Additionally, the performance of PSBs in government initiatives such as the Pradhan Mantri Awas Yojana, Pradhan Mantri Surya Ghar Yojana, and Pradhan Mantri Vishwakarma Yojana will be reviewed, along with developments in digital payments and cybersecurity measures.
In the afternoon session, from 3:00 PM to 5:00 PM, the focus will shift to RRBs. The agenda will include discussions on financial performance, Ground Level Credit (GLC) for agriculture, and the status of technological advancements. The review will also address support for Micro, Small, and Medium Enterprises (MSMEs), the effectiveness of government schemes, and any pending issues that need attention.
This comprehensive review is expected to offer key insights into the functioning of PSBs and RRBs, providing an opportunity to further align these institutions with the government’s goals of economic growth and financial stability.
