FM Nirmala Sitharaman to hold review meeting with PSB chiefs on Saturday

Finance Minister Nirmala Sitharaman is set to hold a review meeting with chief executive officers (CEOs) of public sector banks (PSBs) on Saturday. 

The FM is set to follow up on the Union Budget announcement made in July, in which she had said customers or merchants won’t be charged merchant discount rates (MDRs) as the Reserve Bank of India and banks will absorb the costs.  Sitharaman will also discuss with PSBs the prospects of launching RuPay credit cards, a move that was recently announced by SBI Card.  

Further, overdraft facility to beneficiaries of the Pradhan Mantri Jan Dhan Yojana through RuPay card will be taken up in the meeting which is scheduled to be held over a duration of two hours.