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Finance Minister Smt. Nirmala Sitharaman chairs review meeting with heads of Public Sector Banks Bankers say PSBs adequately capitalised and prepared for any stress scenarios in future Union Minister of Finance Corporate Affairs Smt. Nirmala Sitharaman reviewed the performance of Public Secto
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FAQ :
The review meeting was chaired by Finance Minister Smt. Nirmala Sitharaman.
PSBs recorded a net profit of Rs 31,820 crore in FY 2020-21, which was their highest in the last five financial years.
Yes, bankers confirmed that PSBs are adequately capitalised. As of September 2021, the CRAR of PSBs was 14.4%, exceeding the regulatory requirement of 11.5%.
The Finance Minister urged bankers to continue supporting the agriculture sector, farmers, the retail sector, and MSMEs.
PSBs have performed well under the ECLGS scheme, helping over 13.5 lakh small units survive the pandemic, saving MSME loans from becoming non-performing assets, and preserving livelihoods for approximately 6 crore families.
Credit demand is expected to pick up due to growth in retail segments, an improved overall macroeconomic outlook, and the enhancing financial health of borrowers.
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