FM Nirmala Sitharaman to meet PSU Banks, RRBs heads for performance review on August 19

NEW DELHI: Union Finance Minister Nirmala Sitharaman is set to convene a crucial review meeting at Vigyan Bhawan on Monday to assess the performance of Public Sector Banks (PSBs) and Regional Rural Banks (RRBs).

This meeting aims to evaluate key financial metrics and the effectiveness of various government schemes, ensuring that these financial institutions are aligned with the economic goals.

The morning session of the review meeting is dedicated to the evaluation of the Public Sector Banks from 11:00 AM to 1:00 PM. The review meeting will also focus on several critical areas.

Finance Minister along with other participants will review deposit growth, the credit-to-deposit ratio, and asset quality, which are vital indicators of the banks' health.

Additionally, the meeting will address the current status of accounts acquired by the National Asset Reconstruction Company Limited (NARCL) and discuss the action taken thus far, along with future strategies.

The finance minister will also evaluate the performance of PSBs under government initiatives such as PM Awas Yojana, PM Surya Ghar, and PM Vishwakarma will also be scrutinized, alongside advancements in digital payments and cyber security measures.

In the afternoon meeting from 3:00 PM to 5:00 PM, the focus will shift to Regional Rural Banks (RRBs). The agenda includes evaluating key financial parameters, Ground Level Credit (GLC) for agriculture, and the status of technology upgrades.

The meeting will also cover initiatives for Micro, Small, and Medium Enterprises (MSMEs), performance under government schemes, recent interventions, and any pending issues that require attention.

This comprehensive review is expected to provide valuable insights into the functioning of PSBs and RRBs, enabling the government to enhance its contributions to the economy and ensure financial stability across the nation.