Finance Minister Sitharaman will meet the heads of public sector banks today, may emphasize on this issue

Will review the performance of banks on various schemes launched by the government.

This meeting is being organized at a time when all PSBs have made profits for the second consecutive financial year. Progress in various government schemes including Kisan Credit Card (KCC), Emergency Credit Line Guarantee Scheme (ELGS) will be comprehensively reviewed in the meeting.

Finance Minister Nirmala Sitharaman (FM Nirmala Sitharaman) will hold a meeting with the heads of Public Sector Banks (PSBs) today. During this, she will review the performance of banks on various schemes launched by the government for the revival of the economy. this common Budget 2022-23 ,Budget 2022) is the first review meeting after being introduced. Last week, during the week-long function of the Ministry of Finance as part of the Amrit Mahotsav of Independence, banks had organized loan fairs across the country, where loans were sanctioned on the spot to eligible persons who were willing to take loans. Sources said that the Finance Minister will also take information about the loan growth, asset quality and business growth plan of the banks.

He said that during this a comprehensive review of progress in various government schemes including Kisan Credit Card (KCC), Emergency Credit Line Guarantee Scheme (ELGS) will be done.

These sectors were added under ECLGS 3.0

In the budget, ELGS was extended for one year till March 2023. Apart from this, the guarantee cover for this scheme was increased by Rs 50,000 crore to Rs 5 lakh crore. Hotels and allied sectors, travel, tourism and civil aviation sectors were also covered under ECLGS 3.0.

Sources said that during the meeting the capital requirement of banks and the financial inclusion campaign will also be reviewed. This meeting is being organized at a time when all PSBs have made profit for the second consecutive financial year.

To improve the financial health of PSBs, the government implemented a comprehensive strategy, which includes transparent acceptance of NPAs, resolution of stressed accounts, infusion of capital in public sector banks, comprehensive improvement in the financial environment.

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