Meeting: Finance Minister's meeting with the officials of public sector banks on June 20, there will be talk on NPA and loan increase

Posted on 18th Jun 2022 01:59 pm by rohit kumar

Finance Minister Nirmala Sitharaman will hold a meeting with the officials of public sector banks on June 20. In this, she will review the performance of banks and the progress of all the schemes being run by the government for economic recovery. This will be the first review meeting after the presentation of the budget for 2022-23.

 

Sources said that banks will be appealed in this meeting to sanction loans to productive sectors to accelerate the recovery of the economy facing adverse conditions, including Russia-Ukraine. Last week, banks across the country organized a program to sanction loans to eligible people on the spot.

 

There was also talk on NPA and loan growth

 

Sources said that in the meeting, the pace of credit of banks, business growth plans, and bad bad loans (NPA) will also be discussed. In this, Kisan Credit Card, Emergency Credit Line Guarantee Scheme (ECLGS) will also be reviewed. In the budget, the ECLGS was extended by one year to March 2023. The guarantee cover under this scheme was also increased from Rs 50,000 crore to Rs 5 lakh crore.

 

profit for the second year in a row

 

This meeting is being held at a time when all the public sector banks in the country are making a profit for the last two financial years. Their profit was Rs 66,539 crore in 2021-22. A total of 12 public sector banks had made a profit of Rs 31,820 crore in 2020-21. However, before that, from 2015-16 to 2019-20, they had suffered losses continuously.

 

Also Read: Non-Fungible Tokens: Bill Gates Compares NFT to 'Greater-Fool Theory', Has Criticized Crypto Even Before

Other news

Cyclone Remal: Heavy rains cause devastation in Northeast, search for missing people continues in Mizoram, roads submerged in Manipur

Almost all the states of the Northeast including West Bengal have been affected due to cyclone Re

Independence Day 2023: Many countries were inspired by Mahatma Gandhi's non-violent principles, these leaders had a deep impact

Independence Day 2023: On August 15, 1947, after a long struggle and the sacrifice of many freedo

Nagpur violence: Curfew was imposed in 11 areas, and 33 policemen including three DCPs injured; Fadnavis said - the violence was pre-planned

Curfew has been imposed in 11 police station areas of Nagpur after violence erupted due to agitat

China vs Taiwan: Taiwan's bluntness to China! Will not miss retaliatory action for self-defense if needed

Since the visit of US House Speaker Nancy Pelosi to Taiwan, China has been conducting military ex

Weather Update Today: Heavy rain alert in UP- Bihar, Red alert in Uttarakhand, know the weather of Delhi-NCR

Due to the low-pressure area formed over the Bay of Bengal, there may be light or heavy rain in s

BJP appointed Sunil Bansal as National General Secretary, was also made in-charge of three states

Bharatiya Janata Party (BJP) national president JP Nadda has appointed Sunil Bansal as the nation

Morbi Bridge Collapse: 'Government is responsible for the accident, former Deputy CM of Gujarat Nitin Patel said on the Morbi accident

Morbi Bridge Collapse: About 141 people have lost their lives so far in the bridge accident in Mo

Manipur Violence: The fire of violence has reached the stronghold of Nagas, why is this a matter of concern?

Manipur Violence The incidents of violence in Manipur are not taking the name of stopping. Interm

IND vs AUS : India suffered the biggest defeat while batting first, look at the records made in the second ODI

Australia defeated India by 10 wickets in the second ODI match played in Visakhapatnam on Sunday.

'Impose 100% tariff on India', America is pressuring the G7 countries. What does Trump want?

No one knows what US President Donald Trump will say at any moment and what he will do the next m