Jaitley to review banks' bad loans, GST readiness

Union Finance Minister Arun Jaitley will hold a one-day review meeting of the public sector banks here on June 12 to take stock of the bad loans as well as their preparedeness for GST implementation.

"Jaitley will chair a meeting of Chairmen-cum-Managing Directors (CMDs)/Chief Executive Officers of Public Sector Banks (PSBs) on June 12 to review their performances in the national capital," the Finance Ministry said on Friday.

The PSBs' meeting chaired by Jaitley will be the first in the current fiscal.

"The meeting agenda includes issues and solutions relating to non-performing assets (NPAs) of PSBs, status of micro and small enterprises credit, Stand-up India and Mudra Yojana, among others," the statement said.

The role and preparedness of banks in implementation of the Goods and Services Tax (GST) system from July 1 is also likely to be discussed.

Other issues on the agenda include discussion on financial inclusion and literacy, review of performance of social security schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana and Atal Pension Yojana.

Besides, issues of cyber security, digitalisation of banking transactions, issues relating to rural development, agriculture credit, and education loan will also be discussed, it said.

--IANS

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