Finance Minister Arun Jaitley will meet heads of PSU banks tomorrow to discuss the issue of non-performing assets (NPAs). The minister will also review the financial performance of all the public sector banks (PSBs). Mr Jaitley will discuss the steps being taken by the banks to expedite the recovery of bad loans which have crossed six lakh crore rupees.<br/>Apart from the financial performance review, the meeting will take stock of the status of stressed assets and various measures taken to clean up the balance sheets of banks so that they can start lending. Finance ministry in a statement said, major issues on the agenda of the meeting, the first during this fiscal, include issues and solutions relating to Non Performing Assets (NPAs) of the Public Sector Banks (PSBs), status Stand-up India and Mudra Yojana among others.<br/>Other issues on agenda include discussion on financial inclusion and literacy, review of performance of Social Security Schemes including Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY).<br/> The day-long meeting will also cover areas like cyber security,digitalisation of the banking transactions, rural development, agriculture credit and education loans. Role and preparedness of banks in the implementation of Goods and Services Tax (GST) is also likely to be discussed in the one day Meeting of PSBs.
News On AIR | June 11, 2017 1:13 PM
FM to meet PSU banks chief tomorrow to discuss issue of NPAs