NEWS & ADVICE : PERSONAL LOAN
Evaluation of PSBs’ performance by Finance Minister today
By Vaibhav Aggarwal
Jun 12, 2012
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The Chiefs of public sector banks and financial institutions are going to have a high powered meeting with Pranab Mukherjee today in which the finance minister will evaluate the annual performance of these banks and institutions.

The meeting comes at a time when the country is facing challenging economic conditions.

An official statement for the same said that the spotlight of the evaluation would be on agriculture credit and MSME (Micro, Small and Medium Enterprises)financing, housing loans , education loans as well as NPAs both gross and net.

Additionally, the evaluation will also measure the success of the initiatives undertaken by Department of Financial Services and Ministry of Finance for improving productivity and efficiency of PSBs.

The release said, "Our financial sector is having immense potential in economic development of the country. However, there is a need to identify the opportunities and recognise the challenges to work towards a sustainable and inclusive growth".

Issues related to Regional Rural Banks (RRBs) like their recapitalization and the New Pension Scheme-NPS lite, also popular as 'Swavalamban' scheme, are also going to be a part of the discussion at the meet.

The financial inclusion scheme 'Swabhimaan' and the growth of banking infrastructure in the North Eastern and hilly states with low population density of about 1,000 to 2,000 people would be evaluated as well.

Apart from the chiefs of PSUs and Financial institutions, others who are expected to be present in the meeting include Ministers of State (Finance), RBI Deputy Governor and other senior Finance Ministry officials.


 


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