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FM to meet chiefs of PSB banks today

Nirmala Sitharaman undertakes review of Finance Ministry

Nirmala Sitharaman undertakes review of Finance Ministry

New Delhi: Finance minister Nirmala Sitharaman is expected to meet heads of public sector banks (PSBs) on Thursday and review the financial performance of as many as 12 lenders.This is going to be the first review meeting after the 2022-23 financial results. In the last fiscal, PSBs together posted a record profit of Rs 1.04 lakh crore, with market leader State Bank of India (SBI) accounting for nearly half of the total earnings. From posting a total net loss of Rs 85,390 crore in 2017-18, the PSBs have come a long way as their profit touched Rs 1,04,649 crore in 2022-23. Besides, the review of financial performance, the meeting is going to take stock of the progress made by banks in achieving targets set for the various government schemes, including Kisan Credit Card (KCC), Stand-Up India, Pradhan Mantri Mudra Yojana (PMMY) and emergency credit line guarantee scheme (ECLGS) to help businesses affected by Covid-19, sources said.

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