New Delhi: Minister of Finance Nirmala Sitharaman is scheduled to meet with the Head of the Public Sector Bank (PSB) on August 25 to review the financial performance of lenders and progress made by them to support the economy.
Given the importance of the banking sector in producing demand and increasing consumption, the source said the meeting with PSB’s head was considered important.
FM recently said the government is ready to do everything needed to revive and support the economic growth affected by a pandemic.
“Growth will be given its interests.
Growth will be driven by RBI and by us …,” he said.
This will be the first physical review meeting since the Covid outbreak in March last year.
This meeting is expected to survive the banking sector, and the progress of the 2.0 restructuring scheme announced by the RBI, the source said, adding that banks can be deducted to encourage loan growth in productive sectors.
The changed RS 4.5 Lakh-Crore Emergency Line Warranty Scheme will also be reviewed during the meeting, is likely to be held in Mumbai, said the source.