Govt to Review PSBs’ Condition, says Sitharaman
By :
Notice: Trying to get property 'fName' of non-object in /home/newobserverdawn/public_html/module/Application/view/application/index/news.phtml on line 23
Notice: Trying to get property 'lName' of non-object in /home/newobserverdawn/public_html/module/Application/view/application/index/news.phtml on line 23
Union Finance Minister, N Sitharaman, on Saturday said that the government was looking after the present conditions of public sector banks.
“The public sector banks will hold ‘Shamiana Meetings’ with non-banking financial companies and retail borrowers in 400 districts. All these meetings would be convened by September 29. These meetings are meant to provide credit to the homebuyers, farmers and other”, she said.
In August first week, the Finance Minister had announced a mega merger of 10 state-run banks into four large entities. The move was aimed at unleashing the latent strength of the banking sector.
The authorities also held a review meeting with Public Sector Banks at New Delhi in which number of relevant issues relating to the sector were discussed.
The Finance MInister said that there would be an effort to ensure maximum credit. All disbursement will be held during the festival period.
“The micro, small and medium enterprises (MSMEs) will not be declared NPAS till March 31 next year”, Sitharaman said.
She stressed, “We have requested that the bank should make an effort to sit with such stressed asset MSMEs and work it out with them to get them out of that situation”.
