Finance Minister Piyush Goyal takes stock of banking system

Union Finance Minister Piyush Goyal on Thursday attended a meeting convened by the Department of Financial Services with various banks, under the Prompt Corrective Action (PCA) and took stock of the banking system.

"I think it was useful meeting to understand what has transpired over the last 12-13 years in the banking system. We met all the banks which have been placed under the PCA. 11 bankers were represented at the highest level and I am delighted to share with you that each one of them shared what had happened in their banks over the last decade," Goyal said after the meeting.

Goyal added that as the new interim Finance Minister, over the next few days, he will ensure that the central government gives every possible support to strengthen the banking system in the country.

"Everyone one of the bankers spoke of solution with beyond history. So today I have 11 extremely empowered and committed leaders of these banks who have shared some very good ideas with our team and ministries. They are going to work for the rest of the day and meet me again late in the evening to prepare action agenda. The public sector banks have played a very important role in development of this country. They will be able to welcome this legacy issues in a short period of time," Goyal added.

Piyush Goyal was given an additional charge of the Ministry of Finance and Ministry of Corporate Affairs on May 14, until Arun Jaitley recovers from a renal transplant surgery.