New Delhi, March 10 (IANS) Finance Minister Arun Jaitley will meet the heads of public sector banks (PSBs) on Wednesday to review their performance, particularly with regard to passing on the Reserve Bank of India's recent interest rate cuts to borrowers.
"During the meeting, the finance minister will review the public sector banks' performance with regard to overall credit growth," a finance ministry release said on Tuesday.
"The finance minister will also review the performance of PSBs and financial institutions (FIIs) with regard to the new projects and proposals, stalled projects and possible remedial measures among others," it added.
Jaitley will also review the banks' performance in their handling of non-performing assets (NPAs) or bad loans, the ministry said.
The RBI has cut the repo rate at which it lends to commercial banks by 0.5 percent in the last two months, but the banks have not followed up on that yet by reducing their lending rates.
Last week, the RBI reduced the repo rate from 7.75 percent to 7.5 percent. This was the second rate cut after January 15, when the central bank had also cut the rate by a similar 25 basis points.
At Wednesday's meeting, Jaitley would also review the progress made on decisions taken at the two-day Gyan Sangam bankers retreat held in Jamuary in Pune.
The meeting would review various key financial sector issues such as credit offtake in the economy, priority sector lending, and progress made under the Pradhan Mantri Jan Dhan Yojana (PMJDY).
Prime Minister Narendra Modi last year launched the PMJDY scheme for promoting financial inclusion. A record 13.6 crore bank accounts have been opened under the scheme.
new Delhi. The police team went to capture gangster Vikas Dubey in Bikaru village on the night of
Amidst the countdown to Lok Sabha elections, Congress has now decided to name Rahul Gandhi's jour
Many such people are standing on the front lines in our society, who, instead of the reality of t
On January 6, 2021, the 8th hearing was held in the US regarding the attack by supporters of form
Team India's star fast bowler Mohammed Shami has been honored with the Arjuna Award. Shami is the
Earthquake tremors have been felt in Jammu and Kashmir. According to the earthquake mobile app, t
New Delhi
There has been a change in the policy of discharging corona virus infected pati
Trouble for former MD of Twitter India, SC sent a notice on UP government's petition
The Supreme Court has issued a notice in the FIR against Manish Maheshwari, former MD of Twitter
Many states of the country are facing severe heat these days. In many states including Gujarat, D
The second match of the 3-match Test series will be played between India and South Africa from to
