Chidambaram to review financial performance of public sector banks

FM will also review the performances of the PSBs with regard to the steps taken by them to reduce their NPAs and increase their recovery

Finance Minister P. Chidambaram will hold a meeting with the Chief Executive Officers (CEOs) of Public Sector Banks (PSBs) and Financial Institutions (FIs) today in order to review their annual performance for the financial year ending March 31, 2014.

Chidambaram is likely to review the PSBs performance in overall credit growth, with particular reference to agricultural credit, MSME credit, housing loan, education loan and lending to minority communities among others.

Chidambaram will also review the performances of the PSBs with regard to the steps taken by them to reduce their Non Performing Assets (NPAs) and increase their recovery.

He will also discuss the issue of capital adequacy for the banks . The Finance Minister will also discuss the progress made with regard to the stalled projects especially in those cases where PSBs have extended credit facilities.

The Finance Minister will also discuss the steps taken by the PSBs with regard to financial inclusion.

This will be second meeting in the current calendar year 2014 by the Finance Minister with the CEOs of the PSBs/FIs. The last meeting was held by the Finance Minister with the CEOs of PSBs/FIs on March 5, 2014 in the national capital.