Public Sector Banks: Finance Minister Nirmala Sitharaman held a review meeting with senior officials of public sector banks on Monday.
In this, the Finance Minister discussed with the banks on many issues like increasing deposits in banks, digital payment, cyber security, credit products and schemes. The Finance Minister instructed all government banks to focus on customer service and pay special attention to customers from rural and semi-urban areas. Nirmala Sitharaman said that cooperation should be increased between banks, government, regulators and security agencies regarding fraud and cyber security.
Banks should pay special attention to PM Surya Ghar and Vishwakarma Yojana
Finance Minister Nirmala Sitharaman said that banks need to take swift action to implement the budget announcements. The Finance Minister said that banks should pay special attention to the PM Surya Ghar Free Electricity Scheme and PM Vishwakarma Yojana. The meeting was attended by the heads of all the banks including Secretary Vivek Joshi and M Nagaraju and officials of the Department of Financial Services.
Asset quality of banks improved, NPA also decreased
Nirmala Sitharaman has expressed satisfaction over the performance of public sector banks in the financial year 2024. She said that the asset quality of the banks has improved. Also, the net NPA has also come down to 0.76 percent. The net profit of the banks has been Rs 1.45 lakh crore. Along with this, they have distributed a dividend of Rs 27,830 crore. Along with this, the banks have also successfully raised capital from the market. The credit growth of the banks is also excellent. But now they will have to work fast on increasing the deposits.
👉 Union Finance Minister Smt. @nsitharaman chairs meeting to review performance of Public Sector Banks #PSBs in New Delhi
👉 Various financial parameters such as #DepositMobilisation, #DigitalPayments and #CyberSecurity, Implementation of new credit products/ schemes and Access… pic.twitter.com/Gfzmp1EuSd
— Ministry of Finance (@FinMinIndia) August 19, 2024
Do not be negligent in giving loan closure document to the customer
The Finance Minister asked the banks to pay special attention to the customers. Also, he asked to pay special attention to the changes taking place in the banking sector. All banks should keep making changes in their IT systems from time to time in view of cyber threats. Apart from this, all banks should work on increasing financial support to MSMEs. The Finance Minister instructed all the banks to work following the guidelines of the Reserve Bank of India (RBI). Also, all documents should be made available on time to the customers who terminate the loan.
