March 8, 2021

PM Modi to satisfy PSB heads on Wednesday, more likely to focus on points being confronted by monetary sector



New Delhi: Prime Minister Narendra Modi will on Wednesday meet with heads of public sector banks (PSBs) and is more likely to assess progress on credit score assure scheme for the MSMEs.

Bankers are more likely to make shows earlier than the PM on varied features together with credit score flows and points confronted by the sector, authorities sources informed ET.

Modi had initiated an annual retreat with heads of public sector banks in 2016 known as the ‘Gyan Sangam’, which laid the bottom for variety of measures that had been undertaken for the sector.

The assembly comes within the backdrop of a significant push by the federal government for credit score circulate to business as additionally the proposed coverage on public sector enterprises that may set the tone for big-bang privatisation of such enterprises in varied sectors.

PM to Meet PSB Heads Today

The coverage, which is within the works, will categorise varied sectors as strategic or non-strategic whereas proscribing the variety of PSUs in a strategic sector to 4.

Displays by the PSB heads are more likely to cowl the important thing points being confronted by the sector within the backdrop of the slowing financial system apart from standing on credit score disbursement.

In Could, as a part of its ₹20 lakh crore package deal, the federal government had introduced a ₹three lakh crore 100% credit score assure scheme for micro, small and medium enterprises in response to the pandemic and lockdown. “This could be one the important thing focus areas,” stated an individual aware of the me .