New Delhi, June 11 (ANI): Finance Minister Pranab Mukherjee will review the annual performance of banks and financial institutions relating to agriculture credit, micro, small and medium enterprises credit, housing loans, education loans, gross and net non performing assets along with slew of measures initiated by the Department of Financial Services, Ministry of Finance in the areas of improving productivity and efficiency in the Public Sector Banks here on Tuesday.
Mukherjee will do the aforesaid review of the performance of the banks and financial institutions during his meeting with the Chief Executive Officers (CEOs) of Public Sector Banks (PSBs) and Financial Institutions (FIs).
The aforesaid meeting is being held at a time when the Indian economy is facing various challenges. The meeting is likely to be attended among others by the Minister of State (Finance), Deputy Governor, RBI and senior officers of the Ministry of Finance.
It is also proposed to discuss the progress made in regard to Financial Inclusion named "Swabhimaan" and to ensure that the benefits of Government Schemes directly reach the beneficiaries in a time bound plan and through Electronic Fund Transfer (EBT).
The progress made in respect of banking facilities in North Eastern and hilly States with population from 1000 to 2000 will also be reviewed. Government is making all efforts in ensuring that each family has at least one account in the rural areas.
The issues relating to New Pension Scheme - NPS lite, known as 'Swavalamban' featuring self-sustainability, scalability, individual choice, maximising outreach etc will also be discussed.
Mukherjee is likely to appreciate the CEOs for enhancing the net profit of Public Sector Banks and for affecting unprecedented recovery against the outstanding dues. He is also likely to impress upon them to continue their endeavor of tackling the Non Performing Assets (NPAs).
Another important banking area likely to be deliberated upon is the role of Regional Rural Banks (RRBs), as with their vast reach in the rural areas, they have an important role to play in the rural development. Their recapitalization and strengthening with technology will also be discussed as they have come on CBS platform. (ANI)