look news india
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 payments, cyber security, credit products and schemes. The Finance Minister directed 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, regulatory and security agencies regarding fraud and cyber security.
Banks should pay special attention to Prime Minister Surya Graha and Vishwakarma Yojana
Finance Minister Nirmala Sitharaman said that banks need to take swift action to implement budget announcements. The Finance Minister said that banks should pay special attention to the PM Surya Ghar Free Electricity Scheme and PM Vishwakarma Scheme. Secretaries Vivek Joshi and M Nagaraju along with heads of all banks and officials of the Department of Financial Services attended this meeting.
Asset quality of banks improves, NPA also reduces
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. Along with this, 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 succeeded in raising 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.
Do not be negligent in providing loan closure documents to customers
The Finance Minister asked the banks to pay special attention to the customers. Along with this, he has also 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 assistance to MSMEs. The Finance Minister directed all the banks to work following the guidelines of the Reserve Bank of India (RBI). Also, all the documents should be made available on time to the customers who finish the loan.
