Nirmala Sitharaman to meet CEOs of PSBs today

Finance Minister Nirmala Sitharaman will meet the Chief Executive Officers (CEOs) of Public Sector Banks (PSBs) today to discuss several issues including liquidity inflow into the stressed Non-banking Financial Companies (NBFCs).

Nirmala Sitharaman

The review meeting is expected to discuss issues like progress on credit offtake, liquidity inflow in NBFCs, Micro, Small and Medium Enterprises sectors (MSMEs), as per the sources.

To enhance their capital base, banks will also present the report card on the partial credit guarantee scheme and fund raising from the market, sources added.

In August, the government had issued guidelines on operationalising Rs 1 lakh crore partial guarantee scheme through which PSBs were allowed to purchase high-rated pooled assets of NBFCs who are financially sound.

In September last year, post-IL&FS crisis many NBFCs including housing finance companies had come under liquidity crisis which is still not resolved completely.

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