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Finance Minister to meet PSU Banks Heads on 30 Dec, 2nd meeting within a week


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Finance Minister Nirmala Sitharaman is set to have a second meeting with public sector banks. The meeting with bankers from the public sector is scheduled for December 30. Earlier, the Finance Ministry had a meeting on December 22 with four government banks.

The upcoming meeting on December 30 may discuss NPA recovery, IBC cases, and cyber fraud. The Finance Minister will also review government schemes like the Vishwakarma Yojana, Swanidhi Yojana, and Mudra Loan.

This marks the second meeting with government sector bankers within a week, following the December 22 meeting with public sector bank heads. In that meeting, discussions included the management of stressed assets (NPA) and a review of the performance of debtor banks based on various criteria.

Additionally, an extended review of long-pending cases under the Insolvency and Bankruptcy Code (IBC) for acceptance and resolution is expected in the meeting chaired by the Financial Services Secretary.

Finance Minister Nirmala Sitharaman, in her budget speech for the fiscal year 2021-22, announced the government’s intention to establish a ‘bad bank’ as part of a nearly two lakh crore rupees resolution plan for distressed loans in the banking system.

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