Govt to set up working groups to prepare action plan: Bank officials

Finance ministry is likely to constitute working groups which will define action plans that will be aimed at providing seamless credit flow to various sectors, bank executives said

The government will set up working groups to flesh out an action plan to translate deliberations at the two-day conclave into results, senior bank executives said. 

The focus of the “Creating Synergies for Seamless Credit Flow and Economic Growth” conference has been to give impetus to economic activity which has shown a good appetite so far and support year-on-year growth of 8-9 per cent, bank executives said. 

As a step to translate discussions at conclave into results, the finance ministry is likely to constitute working groups which will define action plans that will be aimed at providing seamless credit flow to various sectors of the economy, bank executives said. Presently, timelines have not been firmed up. 

 

At the interaction with bankers, industry representatives and government departments, it has also been decided that the a web-based project funding tracker will be created that would help in monitoring funding of several ongoing and new projects.
 
The ministries like Housing and Urban Affairs, Steel, and Heavy Industries also presented their vision and update on various government schemes including those announced as a part of Atmanirbhar Bharat package.