New Delhi : Amid mounting bad loans and record losses by several public sector banks, Finance Minister Arun Jaitley will hold a meeting with the heads of PSBs on June 6 to find ways to deal with the situation. The meeting will review the annual performance of PSBs as well as financial institutions and deliberate on capital requirement of these entities.
The meeting comes against the backdrop of state-owned banks posting more than Rs 20,000 crore losses in the fourth quarter of the 2015-16 fiscal alone. Few more banks, including SBI and Canara Bank, are yet to announce their annual numbers.
Sources said the broad agenda for the meeting includes rising non-performing assets, deteriorating balance sheets, consolidation and capital requirement during the current fiscal, 2016-17.
Besides, the meeting will take stock of various schemes such as Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY).
Jaitley will also review the progress made with regard to Micro Units Development & Refinance Agency (MUDRA) and Stand Up India programme, sources said.
