Three days ahead of union budget, RBI Governor Shaktikanta Das on Monday met the MDs and CEOs of public sector banks to take stock of the banking sector’s health.
Three days ahead of union budget, RBI Governor Shaktikanta Das on Monday met the MDs and CEOs of public sector banks to take stock of the banking sector’s health. The periodic review meeting was aimed at conveying the expectation of the Central Bank to the banking sector particularly public sector banks, RBI Governor Shaktikanta Das said after the meeting.
“Idea was to share with bank CEOs and MDs what are RBI’s expectations from banking sector and also to listen to what is their assessment of the current state of banking sector in general and public sector banks in general,” he told media after the meeting.
Das also said that the meeting was also held to know their take on the future outlook of public sector banks, he also said.
From a high of Rs 9.62 lakh crore in March 2018, public lenders have seen a fall in NPAs by more than Rs 23,000 crore on back of various initiatives taken by the the government.
Similarly, the PSU banks have also staged a record in recovery of Rs 60,726 crore in the first half of the FY19. It is more than double the amount recovered in the same period last year.
Piyush Goyal, during his last stint as Finance Minister, had set up a committee to examine whether creation of an ARC or AMC to assist in faster resolution of stressed assets.The committee was headed by non-executive chairman of Punjab National Bank Sunil Mehta.