New Delhi: Finance Minister Nirmala Sitharaman will meet with heads of public sector banks (PSBs) next week to assess the lenders' performance and efforts in helping the economy recover from the COVID-19 pandemic.
According to sources, banks would be pressed to grant loans for productive sectors in order to speed up the economy's recovery. The two-day conference, according to sources, will begin on November 17 and will include a review of several areas as well as progress on government programmes such as the Aatmanirbhar Bharat Abhiyan.
Apart from bankers, top officials from various ministries will attend to identify major difficulties with banks and offer methods to make the process run more smoothly. The meeting, which will be sponsored by the Finance Ministry, will include top officials from infrastructure ministries, agriculture, and related sectors. The meeting with the MDs and CEOs of PSBs is regarded crucial because of the banking sector's relevance in generating demand and promoting consumption, according to sources. The gathering takes place at a time when banks are launching outreach programmes to encourage lending in the productive sectors.
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