PM Modi to meet bankers on Jan. 3 for PSB reforms blue print

Prime Minister Narendra Modi is scheduled to hold discussions with the bankers on January 3, 2015 to draw an action plan for reforms in public sector banks (PSBs).

The meeting scheduled to take place in Pune, will see discussions on the issues like capital requirement, risk profiling, debt recovery and restructuring of the PSBs to improve their efficiency.

The meeting is also likely to focus on what has gone wrong and what should be done both by the banks as well as by the Government to improve and consolidate the position of PSBs. Financial Inclusion, Direct Benefit Transfer and Human resources related issues will also be on the agenda.

According to an official release, the final objective of the discussion would be to prepare a blue print of the reform action plan. Once adopted, the blue print could then be implemented by the banks as well as by government.

The meeting is likely to be attended by Union Finance Minister Arun Jaitley, Minister of State for Finance, Jayant Sinha, RBI Governor Dr. Raghuram Rajan and Finance Secretary Rajiv Mehrishi along with several other officials.