FM Sitharaman to review PSU banks, RRBs on August 19

Union Finance Minister Nirmala Sitharaman will chair a crucial review meeting at Vigyan Bhawan on Monday to assess the performance of Public Sector Banks (PSBs) and Regional Rural Banks (RRBs). The meeting aims to evaluate key financial metrics and the effectiveness of government schemes to ensure these institutions align with the country’s economic goals.

The morning session, from 11:00 AM to 1:00 PM, will focus on Public Sector Banks. Key areas of review include deposit growth, credit-to-deposit ratio, asset quality, and the status of accounts managed by the National Asset Reconstruction Company Limited (NARCL). The Finance Minister will also assess the performance of PSBs under government initiatives like PM Awas Yojana, PM Surya Ghar, and PM Vishwakarma, as well as progress in digital payments and cybersecurity.

The afternoon session, from 3:00 PM to 5:00 PM, will shift focus to Regional Rural Banks. The agenda includes evaluating financial parameters, Ground Level Credit (GLC) for agriculture, and technology upgrades. Additionally, the meeting will review initiatives for Micro, Small, and Medium Enterprises (MSMEs), performance under government schemes, recent interventions, and any unresolved issues.

This comprehensive review is expected to provide valuable insights into the functioning of PSBs and RRBs, helping the government strengthen its economic contributions and ensure financial stability across the nation