Nirmala Sitharaman will hold a meeting with the heads of public sector banks today, many issues can be discussed

Posted on 20th Jun 2022 10:59 am by rohit kumar

Finance Minister Nirmala Sitharaman will hold a meeting with the heads of public sector banks (PSBs) today i.e. on Monday. In this meeting, the Finance Minister will discuss the performance of government schemes and the revival of the economy. Along with this, the performance of the lending institutions will also be reviewed in this meeting.

 

The focus will be on giving more loans

 

Sources said banks would be urged to give more loans to productive sectors to accelerate the revival of the economy. Significantly, at this time, challenges are being faced on the economic front due to various reasons including the Russo-Ukraine war.

 

ECLGS will also be reviewed

 

According to sources, the progress of various government schemes and the performance of various economic sectors will be thoroughly reviewed in this meeting. The Loan Facility Guarantee Scheme (ECLGS) will also be under review. In this year's budget, ECLGS has been extended till March 2023. In addition, the guarantee cover for the scheme was increased by Rs 50,000 crore to Rs 5 lakh crore.

 

public sector bank earning profit

 

This meeting is being organized at a time when all PSBs have made a profit for the second consecutive financial year. In such a situation, in this meeting, the government can ask banks to increase the allocation of credit to productive sectors to accelerate the pace of the economy.

 

Also Read: PAK will remain in the gray list of FATF: Financial Task Force said - strict steps are necessary on terror finance, will do on-site verification

Other news

MS Dhoni: Will the Indian team win the World Cup 2023 title? The former captain gave this answer in his unique style

The journey of the Indian team so far in the World Cup 2023 has been excellent. The Rohit Sharma-

Manu Bhaker returned to India with two medals, received a grand welcome at Delhi airport with drums and trumpets

Women's shooter Manu Bhaker, who won the first medal for India in the Paris Olympics 2024, return

Irrfan Khan: Trailer of the film 'The Song of Scorpion', the late star will be seen on the big screen for the last time

The trailer of late actor Irrfan Khan's film 'The Song of Scorpion' has been released. Now this f

Ratan Tata bets on the startup of 25-year-old youth, know what the company does

Industry veteran Ratan Tata has announced an investment in Goodfellows, a startup that supports s

Government Schemes: Empowerment of women in villages through government schemes, 16 percent took a home loan

The empowerment of the women of the villages is happening rapidly through the government's propri

UGC: The rules of Central University will now apply in Deemed also, admission will be done based on merit of National Entrance Examination

In the deemed-to-be universities across the country, now the admissions in undergraduate and post

Ankita Murder Case: People's anger was visible during the verdict, barricades were broken, and police dispersed them by spraying water

Given the verdict in the Ankita Bhandari murder case in Rishikesh, Uttarakhand, the district poli

Delhi Bomb Threat: Dwarka court receives bomb threat via email, causing panic; police are investigating.

A sensational incident unfolded this morning at the Dwarka Court in the national capital, Delhi,

US: India is playing an 'important role' globally, officials gave statement before PM Modi's US visit

America is ready to welcome Indian Prime Minister Narendra Modi. Meanwhile, President Joe Biden's

Petrol Diesel Price: Petrol-Diesel prices have not changed even today, know how much are the prices in your city

Oil companies have released the prices of petrol and diesel for today. Today companies have not m