FM Sitharaman to review banking situation, credit offtake with PSB chiefs

The meeting was earlier scheduled on May 11, but due to the stimulus package announcements, it was deferred, they added

Finance Minister Nirmala Sitharaman will hold a review meeting with CEOs of public sector banks (PSBs) on Friday to discuss various issues, including credit offtake, as part of efforts to prop up the coronavirus-hit economy, PTI reported quoting unnamed sources.

The meeting was scheduled on May 11 but was deferred due to the stimulus package announcements.

The meeting, to be held via video-conferencing, will also take stock of interest rate transmission to borrowers by banks and progress on the moratorium on loan repayments, the sources said.

The RBI had on March 27 slashed the benchmark interest rate by a massive