Key Points
Finance Minister Nirmala Sitharaman on Thursday asked heads of public sector banks (PSBs) to ensure fair and transparent recognition of bad loans and pursue robust risk management practices so as to maintain the momentum of growth and profitability..
In the review meeting with the top management of PSBs, discussions were held on the positive macro trends, improved business sentiments, 'Twin balance sheet advantage' and performance of the state-run banks...
Strengthened by high capital adequacy of 15.53 per cent CRAR (comparable to major economies of the world), clean balance sheets supported by a healthy provision coverage (90.68 per cent), and improved resilience, PSBs are well positioned to support the credit needs of the productive sectors of the growing economy...
She will also chair meetings in the month of July-August 2023, in different regions of the country to review the functioning of the RRBs along with their sponsor banks, with a special focus on the status of technological upgradation of the RRBs...
The review of the RRBs would commence on July 21 at Tripura, in which the Finance Minister will conduct a review of the functioning of the RRBs in the Northeast, it said.. Meetings to review the functioning of the RRBs, along with the corresponding sponsor bank, will then be held by the Finance Minister region-wise in the North, West, South, East, and Central parts of the country, it said.. Bankers during the meeting assured the Finance Minister that with strong financial health, they are comfortably placed to withstand any macroeconomic shock...
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