Rs 14,131.6 cr recovered from sale of Vijay Mallya’s assets: Sitharaman
The Finance Minister informed the Lok Sabha that the Enforcement Directorate (ED) has been successful in recovering assets from several high-profile economic offenders.
With an aim to evaluate key financial metrics, Finance Minister Nirmala Sitharaman is set to convene a crucial review meeting to assess the performance of Public Sector Banks (PSBs) and Regional Rural Banks (RRBs).
The meeting will be convened at Vigyan Bhawan on Monday to evaluate the effectiveness of various government schemes, ensuring that these financial institutions are aligned with the economic goals.
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The Finance Minister along with other participants will review deposit growth, the credit-to-deposit ratio, and asset quality, which are vital indicators of the banks’ health.
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Further, as per the reports, the meeting will address the current status of accounts acquired by the National Asset Reconstruction Company Limited (NARCL) and discuss the action taken thus far, along with future strategies.
Sitharaman will also evaluate the performance of PSBs under government initiatives such as PM Awas Yojana, PM Surya Ghar, and PM Vishwakarma will also be scrutinized, alongside advancements in digital payments and cyber security measures.
The meeting will also cover initiatives for Micro, Small, and Medium Enterprises (MSMEs), performance under government schemes, recent interventions, and any pending issues that require attention.
This comprehensive review is expected to provide valuable insights into the functioning of PSBs and RRBs, enabling the government to enhance its contributions to the economy and ensure financial stability across the nation.
The morning session of the review meeting is dedicated to the evaluation of the Public Sector Banks from 11 AM to 1 PM. The review meeting will also focus on several critical areas.
In the afternoon meeting from 3:00 PM to 5:00 PM, the focus will shift to Regional Rural Banks (RRBs). The agenda includes evaluating key financial parameters, Ground Level Credit (GLC) for agriculture, and the status of technology upgrades.
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