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FM to review Public Sector Banks’ performance

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BL26_ndamj_BJP_GH3_1189512eThe Union Finance Minister Arun Jaitley is going to review the performance of Public Sector Banks (PSBs) in a meeting scheduled to be held on Nov 23, 2015 in the national capital. The meeting would be attended by the Minister of State for Finance; Deputy Governor, RBI; Secretary, Department of Financial Services; Secretary/Senior officials of Ministry of Medium, Small and Micro Enterprises (MSME); Ministry of New and Renewable Energy (MNRE); Ministry of Food Processing; Ministry of Textiles & Ministry of Rural Development; Chairmen and Managing Directors of PSBs; Chairman, NABARD and senior officers of the Ministry of Finance. The major thrust areas of review would be priority sector lending, quarter-2 results, financial literacy, Pradhan Mantri Mudra Yojana (PMMY) and insurance and pension schemes.

Apart from the aforesaid reviews, the Ministry of MSME will discuss issues related to MSME financing, while the Ministry of New and Renewable Energy (MNRE) will discuss the status of the commitment given by the banks for the funding of renewable energy projects in the next five years.

In the said review meeting, the Ministry of Food Processing would discuss utilisation of special fund of Rs 2,000 crore set-up by the Ministry of Finance to provide affordable credit to Designated Food Parks (including Mega Food parks) and food processing units located therein. The Ministry of Textiles will discuss implementation of Revival, Reform & Restructuring (RRR) package for Handloom Sector & Institutional Credit to Sericulture, while the Ministry of Rural Development will discuss SHG Credit Linkage Plan, among others.

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