Finance Minister Arun Jaitley will meet heads of Public Sector Banks today to discuss the issue of non-performing assets, NPAs.The Minister will also review the financial performance of all the public sector banks. Mr Jaitley will discuss the steps being taken by the banks to expedite the recovery of bad loans which have crossed six lakh crore rupees.
Apart from the financial performance review, the meeting will take stock of the status of stressed assets and various measures taken to clean up the balance sheets of banks so that they can start lending.
This will be the first meeting in the current financial year 2017-18 which will be chaired by the Finance Minister. Other major issues on the agenda of the meeting include status of MSE Credit, Stand-up India and Mudra Yojana among others.
Discussion will also take place on financial inclusion and literacy and performance of Social Security Schemes including Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana and Atal Pension Yojana will be reviewed.
The day-long meeting will also cover areas like cyber security, digitalisation of the banking transactions, rural development, agriculture credit and education loans.
Role and preparedness of banks in the implementation of GST is also likely to be discussed.